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
The profit from selling a primary residence is tax-free up to $250,000 for individuals and $500,000 for married couples, provided the homeowner lived in the property as their primary residence for at least two of the five years preceding the sale.

Prediction Details

Topic
Tax-Free Profit from Selling Primary Residence

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