UNDERSTANDING CAPITAL GAINS TAX IN THE SUNSHINE STATE

When offloading a home in FL, you don't face state capital gains tax, maximizing your profits. You may want to think about the federal government’s principal residence exemption if you've lived there for two of the last five years—granting up to a $500,000 tax exemption for spouses or $250,000 for others. Upgrades can raise your home’s worth,