UNDERSTANDING CAPITAL GAINS TAXES IN THE SUNSHINE STATE

When offloading a residence in the look at here now Sunshine State, you will not encounter a state-level capital gains tax, enhancing your profits. You may want to think about the IRS's main home exclusion if you've lived there for two out of five previous years—allowing up to $500,000 in exempted gains for joint filers or $250,000 if unmarried.