#33: Each summer, the real estate market turns into a zoo as buyers and sellers play a big game of musical chairs. Everyone’s trying to get a new seat before the school year starts up again.

Buyers who are also selling a home that has gone up in value will face capital gains taxes…

Or will they?

If you do things right, you can exclude from taxes up to $500k capital gain married filing joint (single filers divide by 2).

In this week’s podcast, I share how the home sale capital gains tax exclusion works, the rules you must follow, and common mistakes sellers make that cut into the tax benefit.

What you’ll learn:

• Basic rules of the home sale capital gains tax exclusion
• The 2009 change that made claiming your exclusion more difficult
• What qualified vs. non-qualified uses are…and how it impacts your tax liability
• The safe harbors that help you exclude more from taxes

Have you sold a home before and were able to get the exclusion? What’s the most confusing part of the rules to you? Let me know by leaving a comment when you’re done.

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Links mentioned in this episode:

• How to avoid capital gains taxes when selling your house
• HYW private Facebook community

Intro/Outro: Old Bossa by Twin Musicom.