[deleted] t1_iuddl8g wrote on October 30, 2022 at 2:07 PM

Reply to comment by powsandwich in The face of opposition to Question 1 admits proposed tax wouldn’t hurt him much: ‘I’m not struggling’ - The Boston Globe by petepont

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tacknosaddle t1_iudgjjp wrote on October 30, 2022 at 2:29 PM

You get to deduct the sales price, but there's also another deduction that is $500k for a couple (the linked article explains). Basically you'd most likely have to be selling a $2m home to even pay the higher rate on just small percentage of the home sale price.

PavlovaoftheParallel t1_iue2i2b wrote on October 30, 2022 at 5:03 PM

And all the major repairs and improvements are deductible as well.

They have literally just jumped on the house thing because they have nothing else to sell the “no” vote on.