When you sell your main home, the IRS lets you exclude a large amount of profit from taxes. Many sellers end up owing nothing at all.
See how it works through one simple example.
A single owner can exclude a large amount of profit. A married couple can exclude double.
Only profit above that exclusion is taxed, usually at lower long-term rates.
Keep records of improvements. They raise your cost and lower the taxable profit.
Slide to your profit and pick your filing status.
This is a rough guess. Connect your account to see your real number, down to the dollar.
A simple federal estimate to show the idea, not a tax filing. Real numbers depend on your full situation and current limits, which we confirm before you act.
Connect your records and we apply the exclusion, your improvements, and the right rate.
Free to check. Nothing happens until you say so.
The honest version.
A set amount if single, double if married filing jointly. We confirm the current figures.
Only the part above the exclusion is taxed, usually at lower rates.
Yes, they increase your cost and shrink the taxable profit, so keep receipts.
Connect an account or upload last year's return. No card to get your number.
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