Many American households have substantial home equity - $34.5 trillion - and for those with significant equity, selling a home can free up a lot of cash. However, the potential for a capital gains tax bill can be a concern for many sellers. With proper upfront tax planning, it's possible to minimize or even eliminate capital gains taxes in some cases. Homeowners can reduce taxes on the sale of their primary residence through an IRS exclusion: * Single taxpayers can exclude $2

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While the housing market continues to experience ups and downs, one challenge that has remained through all of the changes over the last...