Selling a Highly Appreciated Home? Combine Two Tax Breaks

Let’s say your home has appreciated in value since you bought it many years ago. You want to sell the property and convert the equity into an income-producing investment. But there’s one problem: The amount of gain is expected to be much more than the $250,000 that you can pocket tax free under the tax law ($500,000 for married couples filing jointly.) You have to pay taxes on the profit above that amount. But there might be a strategy to avoid this situation.   READ MORE