question about recap tax when selling homes
When selling a home, If recap tax is considered income tax, then there may not be tax advantages. Because the recap would be 300K and you will be taxed at a much higher rate. Is my understanding correct?
When selling a home, If recap tax is considered income tax, then there may not be tax advantages. Because the recap would be 300K and you will be taxed at a much higher rate. Is my understanding correct?