Re:The wealth of the 25 richest families in the world soared...
by anonymouskimmer on Saturday December 09, 2023 @12:05AM
(#38578782)
Quite likely.
> Whatever the mortgage was has no bearing on it.
Yeah, I realized that and deleted my edit.
Editing a third time to point out that we're editing back and forth in real time. Your edit on the mortgage didn't exist at the time I deleted my edit about it. :)
Edit: And for those calculating all of this out to determine what percent of the population does fall into the top 1% from a home sale:
: If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.
> Whatever the mortgage was has no bearing on it.
Yeah, I realized that and deleted my edit.
Editing a third time to point out that we're editing back and forth in real time. Your edit on the mortgage didn't exist at the time I deleted my edit about it. :)
Edit: And for those calculating all of this out to determine what percent of the population does fall into the top 1% from a home sale:
https://www.irs.gov/taxtopics/tc701
: If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.