As a homeowner, you get tax breaks for your principal residence and second home.
But you can’t access the most valuable write-offs until you sell your house. That’s right. Your major home improvements can save you money in capital gains
tax.
Sure, the IRS waives the tax on the first $250k (single) or $500k (married) of gain on your primary residence, but if you surpass it, then you’re in trouble. You’ll need to prove the profit is much smaller.
Here’s what the book reveals:
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