New Tax Laws for Homeowners

Originally published by Aimee Hess.

The new Tax Cuts and Jobs Act signed into law by President Trump has important implications for Texas home owners. The National Association of Realtors provides a concise summary of the new law on its website, which you can access here. These changes include:

Gain on Sale of a Principal Residence

• The final bill retains current law and excludes gains on the sale of a principal residence from taxable income.

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