However, if you live within the home for 2 of the previous 5 years earlier than promoting, you get a really giant tax exclusion — $500,000 for married joint filers, or $250,000 for single or separate filers. If you’ve put in a new roof, changed a furnace, refinished floors or even landscaped the garden, make positive to embody these prices to extend your adjusted foundation and scale back the quantity of your capital features on the sale. Thanks to the Tax Cuts and Jobs Act of 2017, you can solely deduct up to $10,000 mixed out of your property taxes …