ilmscore | Prediction Details
"If you own a home, you can sell your home and you can profit up to $250,000 if you're an individual or $500,000 if you are a married person, and this money that you put in your pocket is completely tax-free. That now you can put in your pocket, you can go out and spend, you can go out and use for a bigger home or you can use this money to invest in something else. The key for this deduction to work is you have to live in this home as your primary residence for at least 2 years before you sell it."
By Minority Mindset | November 12, 2023 | Pending
From video
How The Wealthy Pay No Taxes (And How You Can Too) | Jaspreet Singh 00:25:10 - 00:25:47
Interpreted Prediction
Individuals can sell their primary residence and exclude up to $250,000 (single) or $500,000 (married) of profit from capital gains taxes, provided they have lived in the home for at least two of the five years prior to the sale.

Prediction Details

Topic
Primary Residence Capital Gains Exclusion

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