Row 17520

Row ID: 17520 | Dataset Entry | Axioma AXP Content Repository

Content Data

This page contains data entry 17520 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Well it depends. You're thinking about a 1031 exchange. That would entail buying a home of equal value to the home he just sold. But he mentions downsizing. So the other scenario is (assuming he is in the U.S.) if the home he is selling is his primary residence for at least 2 of the past 5 years then he has an exemption on up to $250K of the profit if single or up to $500K if married filing jointly. Then the cost basis plus any additions would need to be factored in to get the total capital gains plus income tax bracket.

FieldValue
text Well it depends. You're thinking about a 1031 exchange. That would entail buying a home of equal value to the home he just sold. But he mentions downsizing. So the other scenario is (assuming he is in the U.S.) if the home he is selling is his primary residence for at least 2 of the past 5 years then he has an exemption on up to $250K of the profit if single or up to $500K if married filing jointly. Then the cost basis plus any additions would need to be factored in to get the total capital gain…
label r/investing
dataType comment
communityName r/investing
datetime 2024-05-20
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url_encoded Z0FBQUFBQm5Lak9OWUM3TnI0a1lIa2FkTTVvQUc4bjRwQlVZWlotT2RtMzIzeUpHTG5YMzB3eXB5ZWJrUVp6T2lSaVpQd2tkQ0NISHZLTGVzS0U2TmF4UHZOUXdTVkRvQnpsTWgtQWN2R2QxX2lidXdESlZlQUhLczZjSEVvOG9ydmE1VVpRV2NsY0doM2Q0dWhFbHVxME1wZmV0ZmNIVFdVOHpFdWxaQXE5LU9nb0dHMkVmaW1KZHg3VTVSdVNjbFBQZmRyVUlNMzFsT3RHMTJyNllQOU9SQllQYkQwV0JYUT09

Raw Record

{
  "text": "Well it depends. You're thinking about a 1031 exchange. That would entail buying a home of equal value to the home he just sold. But he mentions downsizing. So the other scenario is (assuming he is in the U.S.) if the home he is selling is his primary residence for at least 2 of the past 5 years then he has an exemption on up to $250K of the profit if single or up to $500K if married filing jointly. Then the cost basis plus any additions would need to be factored in to get the total capital gains plus income tax bracket.",
  "label": "r/investing",
  "dataType": "comment",
  "communityName": "r/investing",
  "datetime": "2024-05-20",
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