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What is obama's plan for capital gains on home sales?

In: Taxes and Tax Preparation [Edit categories]

Answer:

Obama has not clearly stated his policy yet on this in any speech I can find.
It is assumed that the $250K single tax filer or
$500K married write off on profits will still apply.

If you stay in your house for 2 out of 5 years and get a $250K single or
$500K married write off, then why don't you get twice as
much if you stay in your home 10 years?
Right now people
can't move to a new job if they are laid off. People
can't move to be with their parents who are old and need
help.
Plus it's not fair some people who move very
often don't pay any tax on their home's capital gain
since they more often than the house value increases
and other people who stay in the same home for 20 years
have to pay capital gains tax.

First answer by ID1199767734. Last edit by ID1199767734. Question popularity: 1 [recommend question].

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