THE SUNSHINE STATE'S CAPITAL GAINS TAX: WHAT YOU NEED TO KNOW

When offloading a property in Florida, you won’t be subject to state capital gains tax, boosting your profits. You should consider the IRS's principal residence exemption if you've resided in the property for at least two of the past five years—allowing up to a $500,000 tax exemption for joint filers or $250,000 for single filers. Upgrades can