How to Handle Capital Gains Taxes When Selling Property in Florida
When listing a residence in the Sunshine State, you will not be subject to state capital gains tax, maximizing your earnings. You should think about the IRS's main home exclusion if you've resided in the property for two of the last five years—permitting up to a $500,000 tax exemption for spouses or $250,000 for single filers. Upgrades can raise