Inbox Questions | Capital Gains on the Sale of Home

Today, we tackle a question from Patrick about the nuances of capital gains taxes on the sale of a primary residence. We break down how community property laws can impact your tax liability, the role of improvements in calculating your cost basis, and other key considerations to keep in mind when selling your home.

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Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms. 

Contact Devin’s team at https://www.carrolladvisory.com/ 

Contact John’s team at https://www.rossandshoalmire.com/ 

If you’re thinking "I love the Big Picture Retirement podcast!” please consider rating and reviewing this show! This helps us support more people -- just like you -- move toward a confident retirement. Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” Then be sure to let us know what you loved most about the episode!

Also, if you haven’t done so already, follow the podcast. We’re adding new content every week, and if you’re not following, there’s a good chance you’ll miss out. Follow now! 

Don’t miss the Big Picture Retirement Planning Cheat Sheet. We've distilled the essential brackets, thresholds, and rules of retirement into an easy-to-digest, three-page summary. https://www.carrolladvisory.com/pl/2148282517 

Want to ask Devin or John your question? Just visit https://www.bigpictureretirement.com/ and look for the tab on the right side that says “Send A Voicemail.” 

Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms. 

Contact Devin’s team at https://www.carrolladvisory.com/ 

Contact John’s team at https://www.rossandshoalmire.com/ 

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