Older Homeowners

investobricks.com

This New Tax Break Could Finally Convince Seniors to Sell Homes They’ve Kept for Decades

There's a new proposal before the U.S. House that gives older homeowners an incentive to sell. Introduced by Rep. Nicole Malliotakis of New York, the Nest Egg Protection Act would raise the capital gains exclusion for Americans aged 65 and over temporarily. For the next four years—from 2027 to 2030—homeowners who qualify may exclude up to $1 million in profits from taxation for property owned for at...