How do different types of investments affect my taxes?

How do different types of investments affect my taxes?

Different investment types can have varying tax implications. For example, stocks may be taxed on capital gains, while bonds might be taxed as ordinary income. What specific investments are you curious about?

What about real estate investments?

Real estate investments can provide tax benefits, such as deductions for mortgage interest and property taxes. However, rental income is taxable. Are you interested in the tax implications of selling a property?

Yes, what happens when I sell a property?

When you sell a property, you may be subject to capital gains tax on the profit. However, if it's your primary residence, you might qualify for exclusions. Would you like to know more about those exclusions?

Definitely! What are the exclusions for primary residences?

If you've lived in your home for at least two of the last five years, you can exclude up to $250,000 of gain ($500,000 for married couples) from capital gains tax. Would you like to explore more about investment strategies?