Real Estate

Here’s how to lower your tax bill after selling a profitable home


Despite the cooling market, many homeowners made money selling their property in 2022 — and part of that windfall may be taxable.

Home sellers made a $112,000 profit on the typical sale in 2022, a 21% increase from 2021, and a 78% jump from two years ago, according to ATTOM, a nationwide property database. 

While most sellers fall under the thresholds for capital gains taxes, high-dollar home sales or long-term ownership can trigger an unexpected bill, experts say.

More from Smart Tax Planning:

Here’s a look at more tax-planning news.

Here’s how it works: Home sales profits are considered capital gains, with federal tax rates of 0%, 15% or 20%, depending on your 2022 taxable income. (You…


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