FLORIDA'S CAPITAL GAINS TAX: A COMPREHENSIVE GUIDE

When offloading a property in Florida, you won’t be subject to a state-level capital gains tax, enhancing your profits. You ought to consider the IRS's primary residence exclusion if you've resided in the property for at least two of the past five years—permitting up to $500,000 in exempted gains for joint filers or $250,000 for single filers.