daylatedollarshort
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 19, 2013
- Messages
- 9,358
If we sell our current house, I know for a married couple we would get up to a $500K exclusion from capital gains taxes.
But how will this impact ACA subsidies? Do we lose those in the year we sell the house? We would be over the 400% O-MAGI in the year we sell the house, if the excluded capital gains from the house are included in the O-MAGI amount.
From what I have read we would also not get the 3.8% Medicare tax on excluded capital gains amount of $500K or less. Is that correct?
But how will this impact ACA subsidies? Do we lose those in the year we sell the house? We would be over the 400% O-MAGI in the year we sell the house, if the excluded capital gains from the house are included in the O-MAGI amount.
From what I have read we would also not get the 3.8% Medicare tax on excluded capital gains amount of $500K or less. Is that correct?