Is stress making you frustrated and irritable? Stress relievers can help restore calm and serenity to your chaotic life. You don't have to invest a lot of time or thought into stress relievers. If your stress is getting out of control and you need quick relief, try one of these tips. Virtually any form of physical activity can act as a stress reliever.
You will pay taxes on a home sale on amounts of gain in excess of the excludable amount. This type of gain will be taxed at the capital gains tax rate. If youâve owned the home less than one year, any gain over the excludable amount will be taxed at a rate that will be the same as your ordinary income tax rate.
Selling Your Second Home. Tax laws allow you to take up to $500,000 profit ($250,000 if you are unmarried) tax-free on the sale of your primary residence. This primary-home sale exclusion does not apply if you sell your second home: If you sell a house that is not your primary residence, you may have to pay the usual capital gains tax. If you make the second home your primary residence for at least two years before you sell it, however, you may be able to reap some tax benefits, but it's not as easy as it used to be.