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Ms. Toad

(37,740 posts)

2. You seem to be misreading the proposal

Reply to Yo_Mama_Been_Loggin (Original post)

Thu Jul 31, 2025, 09:54 PM

Jul 31

The proposal, at least as described in the article, is an elimination of federal gains taxes on the sale of primary residences.

Regardless of your intent going in, if you aren't living in the house when you sell it, you pay capital gains. Under existing law, you have to have been living there 2 years. The article didn't mention whether the duration requirement would be eliminated, and neither did a separate announcement I reviewed.

This isn't about houses - generally. Or about whether you are living in a house when you buy it. It is about the place you are living when you sell it.

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Highlight:

Trump wants to 'unleash' America's housing market -- and is throwing his support behind MTG's big plan for US real estate [View all] Yo_Mama_Been_Loggin Jul 31 OP

Oh great, as if he wasn't already causing a recession Metaphorical Jul 31 #1

You seem to be misreading the proposal Ms. Toad Jul 31 #2

Thanks for this, MT. The detail of having to live in a house for two years... brush Aug 2 #26

Making it more lucrative for long time homeowners to sell would benefit anyone wanting to buy DBoon Jul 31 #3

I agree Dave says Aug 1 #10

you're assuming a couple. mopinko Aug 1 #14

Most people don't have much Dave says Aug 1 #16

for most ppl, their homes r their biggest investment. mopinko Aug 1 #18

Median house value is $410.8k Dave says Aug 2 #19

that's how it used to b. mopinko Jul 31 #4

Capital gains tops out at 20%, not 39% tinrobot Aug 1 #7

ty. i forgot about that. mopinko Aug 1 #11

The heirs wouldn't pay on capital gains Dave says Aug 2 #20

I support. We need turnover on the housing market Melon Aug 1 #5

It only matters if the gain exceeds $500/250k Dave says Aug 2 #21

That's not true. Any $250k house in in 2016 Melon Aug 2 #24

What's not true? Dave says Aug 2 #25

The lack of affordable housing has continued to moniss Aug 1 #6

Basically, this would give big tax breaks to rich people tinrobot Aug 1 #8

a cap is fine, but housing prices in a lot of places r well above that. mopinko Aug 1 #12

I agree, the limits were set in the Clinton era and never adjusted tinrobot Aug 1 #15

They weren't indexed but they were adjusted Dave says Aug 2 #22

I'm in a profession acutely aware of what would happen if this were to be implemented. W_HAMILTON Aug 1 #9

you're assuming they cd use it over and over. mopinko Aug 1 #13

Not correct Dave says Aug 2 #23

Can we please get these fucking idiots out of our government now? Initech Aug 1 #17