Homeownership: The Tax Implications Of Trading Down

Is it time to trade down to a smaller home? That’s a question more and more homeowners – particularly baby boomers – are asking themselves. Whether you’re thinking about downsizing because you are facing financial or health issues, have recently become an empty nester or are just tired of maintaining a large home, be sure to take the time to understand the tax rules. The Michigan Association of CPAs provides the following overview....-MORE-