March 2026 CT

SELLING YOUR HOME... from page 20.

recognize a capital gain. If that gain falls within the applicable exclusion limits, no tax will be due upon sale. Planning Ahead As with most situations, knowledge is key. Being informed and keeping good records can help homeowners make the most of their reinvestments into both their home and their com munity. While the examples above outline simplified tax concepts related to selling a home, the calculations can become complex quickly. Consulting with a tax professional can help determine how these rules apply to a specific situation. n

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