Avoiding Capital Gains When Selling Your Home with the Home Sale Exclusion

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In today's episode, Evon dives into the tax considerations when selling your primary residence.

Homes tends to make up a considerable portion of optometrists' net worth, and fortunately the IRS provides an exclusion for capital gains from selling your home.

Evon dives into the Section 121 home sale exclusion, the two tests you need to meet to qualify, certain exceptions to keep in mind, and planning considerations when selling a home that you've used as a rental property.

Have questions on anything discussed or want to have topics or questions featured on the show? Send Evon an email at podcast@optometrywealth.com.

Check out www.optometrywealth.com to get to know more about Evon, his financial planning firm Optometry Wealth Advisors, and how he helps optometrists nationwide. From there, you can schedule a short Intro call to share what's on your mind and learn how Evon helps ODs master their cash flow and debt, build their net worth, and plan purposefully around their money and their practices. 

Resources mentioned on this episode:

• IRS Publication 523 - Selling Your Home
• Schedule an Intro Call with Optometry Wealth Advisors!

The Optometry Money Podcast is dedicated to helping optometrists make better decisions around their money, careers, and practices. The show is hosted by Evon Mendrin, CFP®, CSLP®, owner of Optometry Wealth Advisors, a financial planning firm just for optometrists nationwide.