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Your email address will not be published.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 ink and watercolor illustration of a senior couple happily engaging in physical therapy exercises surrounded by warm botanical accents. The Medicare-Covered Therapies Retirees Often Don't Realize Are Included
  • An older couple sitting at their sunlit dining table casually reviewing financial documents together. How a Second Marriage Can Quietly Change Your Retirement Plan
  • An editorial illustration of a gold fountain pen signing a contract where the ink turns into a complex maze, trapping a tiny figure. The Annuity Pitch Retirees Should Always Question First
  • Risograph illustration of an hourglass with golden sand representing retirement funds, with a calendar pointing to age 73. Why Your Required Minimum Distribution Might Be Bigger Than You Think
  • An elegant watercolor illustration of a person finding a glowing retirement file folder in a cozy, sunlit attic room. 5 Retirement Accounts You're Probably Forgetting You Have
  • Editorial watercolor of a woman walking along an illuminated golden path marked with ages 60 to 63. The 401(k) Catch-Up Rule Turning 60-Somethings Can't Afford to Miss
  • 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

Newsletter

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

Related Articles

social security, Social Security task

Who Will Receive Social Security Payments on June 10, 17, and 24?

Tips for Beneficiaries in 2026 If you receive Social Security benefits, here are a few…

Read More →
retirees

Moving Abroad? These 9 Countries Don’t Tax Retirees at All!

7. The Philippines The Philippines is an archipelago consisting of 7,000 tropical islands, and it…

Read More →
free tax assistance avoid

Frugal Tax Solutions: 5 Ways to File Your Taxes for Free

Every year, there is the tax season when everyone needs to file their taxes. It’s…

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 →
A confident woman working on her taxes at a bright, organized home office desk.

IRS Alert: 6 Mistakes That Could Inflate Your Tax Bill

Tax season 2026 is here with new laws and higher deductions. Avoid these 6 costly…

Read More →
Gouache illustration of a couple nurturing a golden plant protected by a glass dome labeled Tax-Free Shield.

The Retirement Planning Move That Pays Off Later

Discover the ultimate retirement planning move: using strategic Roth conversions and HSAs to protect your…

Read More →
climate

You Can Save $10K NOW With These Climate Tax Breaks

Electric Vehicle If there was one of the tax breaks you were probably expecting to…

Read More →
tax deduction

Bigger Refunds Ahead? What the New SALT Cap Means

Bottom Line The higher SALT deduction cap could be a game-changer for some taxpayers—but not…

Read More →
property taxes

Here Are 10 States With the Most Favorable Property Taxes

7. West Virginia Average House Value in 2022: $126,948 Effective Property Tax Rate in 2019: 0.53%…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

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

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.