Senate Bill 1116 incentivizes homeowners to sell to first time buyers by increasing the capital gains exclusion from $250,000 to $300,000 for single filers and from $500,000 to $600,000 for married couples filing jointly. This exclusion applies specifically for transactions between homeowners and first time buyers.
- Department of Finance (pdf)
- You need to earn $144,000 a year to buy a median-priced house in Orange County, Orange County Register, Jeff Collins, November 10, 2016
- Why millennials living with their parents has become the norm in Southern California , Orange County Register, Ian Wheeler, June 23, 2017
Jennifer Hodgkins, (916) 651-4037