No Capital Gains Tax on Home Sales Coming Soon? What You Need to Know

In recent years, more people across the United States are triggering capital gains taxes when they sell their primary homes. This is happening even though the federal government offers a tax break: a capital gains home sale exclusion of up to $250,000 in gains for individuals ($500,000 for married couples filing jointly).
Why? Those exclusion limits haven’t changed since 1997, despite soaring home values in many areas.
Therefore, in today's session, the discussant demonstrates in details regarding the capital gains tax on home sales being omitted proposal that will be passed in the senate soon. So, let's dive in..!