Tax implications of selling vacation property

Real Estate

Taxes

We're considering selling our vacation home. Has anyone gone through this process recently? What tax considerations should we be aware of?

Comments (15)

Richard Miller

4 days ago

We sold our lake house last year. The capital gains exclusion doesn't apply to second homes, so be prepared for that tax hit.

Thomas Jackson

3 days ago

Consider a 1031 exchange if you're planning to purchase another investment property. It can defer the capital gains tax.

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5 days ago

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