Going to be nasty for my wife in 2020 with the sale of our house this month. The capital gains from the house sale, beyond the couples’ exemption, is going to put us in a much higher tax category for that one year. The good news is we made quite a bit of money on our house of 23 years.
Well, it’s good to make money, right? It must be a substantial sum, because a lot of the gains from the sale of a house is exempt. I’m not trying to be flippant. I hate to see anyone pay a lot in taxes for our government to waste.