How to Reduce Taxes When You Sell Your Home

How to Reduce Taxes When You Sell Your Home
You might need pay more tax for selling your house when you file the tax return. topseller/ShutterStock
The Associated Press
Updated:

If your home’s value has soared, congratulations. If you decide to sell, beware.

Financial advisor James Guarino says some clients don’t realize that home sale profits are potentially taxable until their returns are prepared—and by that time, they may have spent the windfall or invested the money in another house.