Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

10 Types of Retirement Income Tax You Need to Know About

December 22, 2022 · Taxes
income
Photo by Drazen Zigic from Shutterstock

Home Sales

Typically, a home is no less than the most valuable asset you could own. Luckily, the tax laws have a generous federal income tax break that applies when you sell your primary home at a gain. If you owned and used the property for your own personal purposes for a minimum of five years before selling it, you can easily exclude up to $250,000 of the gain from the income.

Any gains that are over $250,000 and $500,000 exclusion will be taxed at long-term capital gains rates. Besides that, losses aren’t deductible.

If you enjoyed reading this piece, you might also want to try: 2023: Will You Get A Stimulus Check? Let’s Find Out!

Pages: 1 2 3 4 5 6 7 8

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • An editorial illustration showing two potted sprouts on a kitchen table; one grows freely, while the other is trimmed by pruning shears. The Hold Harmless Rule: Why Some Retirees Got a Real Raise and Others Didn't
  • The Social Security Earnings Limit Just Changed, Here's the New Number
  • Editorial illustration of a smartphone screen showing login security alongside a physical ID card with a gold star. Social Security Identity Requirements in 2027: What Changes
  • An older couple sitting at their kitchen table thoughtfully reviewing financial papers with the number 2,084 written on a pad. A Social Security Advisor Answers the 10 Questions Retirees Ask Most
  • What Happens to Your Benefits If You Outlive Your Spouse What Happens to Your Benefits If You Outlive Your Spouse
  • Editorial illustration of a glass container of liquid draining too quickly, symbolizing rapid retirement fund depletion. 5 Signs You're Withdrawing From Your 401(k) Too Fast
  • A retired couple sits at a sunny kitchen table, thoughtfully reviewing financial papers together with coffee mugs nearby. Married and Retiring? Here's How to Claim Thousands More in Social Security Benefits
  • An ink and watercolor illustration of a balance scale weighing a glass tip jar against a document labeled federal programs. Here's Who Won and Lost Under Trump’s "Big, Beautiful Bill" (Where Do You Stand?)
  • Split-screen watercolor illustration showing an older man in a library with a $5,181 check and an older woman in a kitchen with a $2,076 che Morgan Freeman vs. the Average American: Who Gets More in Social Security?
  • An editorial illustration of a person guided through a bank-wall maze away from a basic account door toward a premium fee-paying door. These Banks Are Accused of Pushing Customers Away From Basic Accounts

Newsletter

Get money-saving tips and personal finance advice delivered to your inbox.

Related Articles

refund

All About Tax Refunds: 7 Important Things You Need To Know

A woman uses a stylus and tablet to review financial documents, staying organized to avoid…

Read More →
tax burdens stealth return

7 States With Largest Tax Burdens for Middle-Class Families

A concerned couple reviews financial spreadsheets in their kitchen, reflecting the growing tax pressures facing…

Read More →
florida

Florida Tax Guide: What Retirees Will Have to Pay (and What They Won’t)

Will I or my heirs owe inheritance and estate taxes in Florida? The Sunshine State…

Read More →
A woman smiling at her phone in a bright kitchen, representing the relief of receiving a tax refund.

When Will Your 2026 Tax Refund Arrive? IRS Timeline Explained

Wondering when your 2026 tax refund will arrive? Check our estimated IRS schedule, learn about…

Read More →
Stimulus Check

These 18 States Are Sending Out Stimulus Checks Now!

7. Georgia – $250 Bonus Payments Georgia citizens who filed tax returns in both 2020…

Read More →
tax deductions, save

Top 9 Most Hassle-Free Deductions on Taxes

Earned income tax credit (EITC) Some so many lower-income people use this credit every year.…

Read More →
prepare early for the tax season avoid

8 Unexpected Reasons to Prepare Early for The Tax Season

7. Faster tax refunds This is probably one of the best reasons to prepare early…

Read More →
check, tax your social security

You’re Free! These 5 States Won’t Tax Your Social Security

5. Florida The Sunshine State has been one of the top spots for retirees over…

Read More →
A graph showing IRS income thresholds for determining the taxability of Social Security benefits for single filers and married couples filing jointly, along with the corresponding tax percentages.

The Tax Implications of Your Social Security Benefits

Essential Tax Forms and Good Record-Keeping Habits When tax season arrives, being organized is your…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Subscribe
  • Unsubscribe
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact
  • Request to Know
  • Request to Delete
  • CA Private Policy

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.