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<blockquote data-quote="island1fox" data-source="post: 991339" data-attributes="member: 4816"><img src="/community/styles/default/xenforo/smilies/FeltTip/smart.png"&nbsp; class="smilie" loading="lazy" alt=":smart:" title="Smart&nbsp; &nbsp; :smart:" data-shortname=":smart:" />We need an honest answer to a difficult question.If you are a UPSer making in the range of 75,000 to 85,000 dollars a year.The year you retire you &quot;downsize&quot; your home of thirty years ----selling it for 400,000 dollars with an original cost of 100,000.You make a capital or investment gain of 300,000.Is this or is this not now considered 400,000 taxable year --putting you above the Obama 250,000 limit and make you subject to an additional 3.8% tax on the sale of your home.P.S.If your house is worth millions even if you are no longer working --the tax applies !!As Pelosi said --we have to pass it to find out all the great stuff in it .</blockquote>

[QUOTE="island1fox, post: 991339, member: 4816"] :smart:We need an honest answer to a difficult question. If you are a UPSer making in the range of 75,000 to 85,000 dollars a year. The year you retire you "downsize" your home of thirty years ----selling it for 400,000 dollars with an original cost of 100,000. You make a capital or investment gain of 300,000. Is this or is this not now considered 400,000 taxable year --putting you above the Obama 250,000 limit and make you subject to an additional 3.8% tax on the sale of your home. P.S. If your house is worth millions even if you are no longer working --the tax applies !! As Pelosi said --we have to pass it to find out all the great stuff in it . [/QUOTE]

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