Aside from the deductibility of PMI and mortgage interest and the potential for capital gain tax exclusion, some homeowners also consider purchasing homes for the possible deduction of real estate taxes. (mortgagecalculator.biz)
The booming stock market and the $ 500,000 capital gains tax exclusion on the sale of a principal residence play a role, too, says Steve Goddard, RE / MAX — Beach Cities Realty, Manhattan Beach, Calif.. (realtormag.realtor.org)
In that case, it also sounds like you meet the requirements for a capital gains tax exclusion and owe nothing. (realtor.com)