Episode Details

How to Be a Real Estate Professional & Save on Taxes with Gina Roth

• (4:30) How do you recommend selling your primary residence and ensure you don't pay taxes?

• • You have to live in it as your primary residence for two out of the trailing five years

  • Once you complete this, it is free capital gains

  • Married: $500,000 exclusion

  • Single: $250,000 exclusion

  • These can include any improvements to the property

• (7:15) Requirements to be a Real Estate Professional for tax purposes