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re: Trump wants to end capital gains tax on housing, specifically primary residences
Posted on 7/22/25 at 12:14 pm to BeesWax
Posted on 7/22/25 at 12:14 pm to BeesWax
most people unless you are extremely wealth wont benefit from this Would rather see fed work with states to do more on property tax rates getting out of control.
1
Posted on 7/22/25 at 12:14 pm to SDVTiger
quote:
Not everyone is dealing with 250k-500k mobile park properties like you
That's the profits, not cost of the property. Very few people deal with those profit levels (5% or less, see another post in this thread).
And, again, the cost basis of the new property is the purchase price.
Why do you need a "1031" for this scenario? You've yet to explain.
Posted on 7/22/25 at 12:19 pm to The Egg
The Marxist will have a huge fit.
Posted on 7/22/25 at 12:32 pm to The Egg
Most of these “gains” are just inflation. Shouldn’t be taxed.
Posted on 7/22/25 at 12:35 pm to FMtTXtiger
quote:
most people unless you are extremely wealth wont benefit from this Would rather see fed work with states to do more on property tax rates getting out of control.
Yep this is something that sounds great in theory but has very little benefit to most Americans. Banning foreign investment in real estate and putting a tax on secondary and investment properties would have a much greater effect.
Posted on 7/22/25 at 12:49 pm to The Egg
If I own something, why should I or someone else have to pay taxes on it being exchanged.
Taxes across the board are stupid.
Taxes across the board are stupid.
Posted on 7/22/25 at 12:55 pm to VolSquatch
End property tax on second homes
Posted on 7/22/25 at 12:56 pm to The Egg
I would just change the levels for single/married from like 250/500 to 500/750 or something. I have been in my current house for 21 years, cost 330, and in a few years could possibly go over the 500K capital gain limit, but even at that I would guess only the small portion that would be over 500K would be taxed.
Posted on 7/22/25 at 12:58 pm to The Egg
Love this.
I would also like to see retirement distributions taxed as cap gains and not ordinary income
I would also like to see retirement distributions taxed as cap gains and not ordinary income
Posted on 7/22/25 at 12:59 pm to Jay Quest
quote:
He keeps them on the wrong side of the 80/20 split
I doubt it’s even 20%. More like 98/2.
Posted on 7/22/25 at 1:00 pm to The Egg
quote:That's not fair! Schiff would get two.
Trump wants to end capital gains tax on housing, specifically primary residences
Posted on 7/22/25 at 1:01 pm to The Egg
I thought this was passed years ago and applied to selling your primary dwelling once every 5 years?? 
Posted on 7/22/25 at 1:11 pm to LSURussian
quote:Nah.
I thought this was passed years ago and applied to selling your primary dwelling once every 5 years??
In the old days rollovers were protected as a one-off.
Now it's up to $500K in profits once every two years (no rollover required).
Currently, for the vast majority, there is no cap gains exposure with home sales as things stand. This proposal is not something which would benefit Joe-SixPack.
This post was edited on 7/22/25 at 1:14 pm
Posted on 7/22/25 at 1:55 pm to The Egg
I would at least expand it - something like $50k exclusion for each year you live in the home beyond 5 years. For the 1031 I assume they mean you shouldn’t have to pay taxes if you use the money as a down payment on a new home. Makes perfect sense.
Posted on 7/22/25 at 1:59 pm to C
quote:But to LSURussian's point, unless profits on a home sale exceed $500K, there is no tax currently.
For the 1031 I assume they mean you shouldn’t have to pay taxes if you use the money as a down payment on a new home. Makes perfect sense.
Posted on 7/22/25 at 7:56 pm to NC_Tigah
The current exclusion level was established in the 90s. Surely inflation itself drives the discussion to expand. It never made sense that the exclusion was the same for 2 or 20 years
Posted on 7/22/25 at 8:22 pm to The Egg
The current law is already great for most homeowners. A select few high rollers exceed the $250k/$500k limits after 2 years. If it allowed unlimited gains after a decade, that would make sense.
Posted on 7/22/25 at 8:25 pm to The Egg
I’m here for it, but what’s the trade-off
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