11/27/2023 0 Comments Mortgage calculator mobile home![]() The good news is that most people who incur capital gains upon the sale of their personal residences will not have to pay tax on the gains, due to the current exemption limits. ![]() Your cost basis will be the principal amount you paid for the property, plus the value of any substantial capital improvements (e.g., building a patio, additional bedroom, etc.) you may have invested in, but not including the cost of ordinary repairs and upkeep. Your capital gain is the amount you sell your home for, minus your cost basis. This increase in value can result in a capital gain to you when you sell your home. Unlike with many other kinds of investments, there are a number of things you can do to increase the investment value of your home.
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