Many real estate investors sell their properties for sizable profits but encounter an unpleasant surprise when they file their taxes the following year. Capital Gains, Accumulated Depreciation, State and “Obamacare” taxes all add up to take a sizeable bite from their profits.
Many of my readers are familiar with the IRS Section 121 Exclusion that allows married couples a $500,000 Capital Gains exemption ($250,000 for unmarried homeowners) on the sale of their personal residence.
I have been following US Census data closely since 2010. As a real estate advisor, I’d like to know which areas of the country have populations that are growing faster than the national average – I think buying in these areas gives us a better chance of success. 2023 population estimates were just released: let’s take a look at the results.
