HOW TO HANDLE CAPITAL GAINS TAX WHEN SELLING PROPERTY IN FLORIDA

When listing a residence in FL, you don't be subject to state-imposed capital gains taxes, enhancing your profits. You may want to consider the Internal Revenue Service’s main home exclusion if you've lived there for at least two of the past five years—permitting up to $500,000 exclusion for married couples or $250,000 if unmarried. Renovations