FLORIDA'S CAPITAL GAINS TAX: WHAT YOU NEED TO KNOW

When selling a property in the Sunshine State, you will not encounter state capital gains tax, maximizing your returns. You ought to evaluate the Internal Revenue Service’s primary residence exclusion if you've occupied the home for at least two of the past five years—granting up to a $500,000 tax exemption for spouses or $250,000 for others. U