In this episode, we dive deep into:

• The differences between short-term and long-term capital gains across various assets
• Common misunderstandings about tax exemptions for personal and rental properties
• Guidelines on carrying forward losses to offset future gains during tax filings
• The methodology for calculating capital gains upon selling a home, the nuances of personal vs. rental properties, and the impacts of depreciation recapture

"Understanding capital gains tax is crucial for making informed financial decisions and optimizing your tax outcomes." – Jeff Hockett

Connect with Jeff:

Website: https://www.hocketttax.com/

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