In 2017 our income will be around 270K. We also have 30K in LTCG from the sale of an investment property. We are going to be selling our home soon which will yield around 100K in LTCG, even after exemptions. My wife is retiring, so our income in 2018 will be about 150K. Should we sell the home, 2017 or 2018, or does it not make any difference? Will any of the tax proposals in Congress affect this question?
You'll need to sign in or create an account to connect with an expert.
That's a tough call. The Congressional tax proposals are still in a state of flux, and it is unknown whether any of the provisions will be effective for 2017. That being said, also consider your State taxes.
https://www.fool.com/retirement/2016/12/11/long-term-capital-gains-tax-rates-in-2017.aspx
That's a tough call. The Congressional tax proposals are still in a state of flux, and it is unknown whether any of the provisions will be effective for 2017. That being said, also consider your State taxes.
https://www.fool.com/retirement/2016/12/11/long-term-capital-gains-tax-rates-in-2017.aspx
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
nshakur
New Member
gardineiro
New Member
bernalshah
New Member
rmorganbmm-gmail
New Member
maxium222
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.