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Your email address will not be published.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

  • 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
  • An ink and watercolor illustration of an older couple entering a cozy, sunlit neighborhood diner. The SNAP Restaurant Meals Program: Which States Allow Seniors to Use Benefits at Restaurants
  • A mid-century gouache illustration of a relaxed retired man sitting in a lounge chair with a tablet, balancing work and leisure. 12 Stress-Free Jobs for Retirees With High-Salaries
  • A retired couple relaxing on a stone terrace overlooking a Mediterranean coastal village during sunset, captured in warm film photography. The 30 Best Countries to Spend Your Retirement In – Which One Is Your Favorite?
  • An active retiree in his late 60s working part-time at a sunlit plant nursery greenhouse, watering green seedlings. The Part-Time Jobs With a 401(k) Match That Most Retirees Don't Know Exist
  • A woman sits on a moving box in her urban apartment, looking at a laptop showing scenic mountain relocation programs. These US Towns Will Pay You to Move There
  • An editorial illustration of a mailbox with a Social Security check inside, having a 32% slice snipped off by scissors labeled Medicare. Medicare Part B Ate 32% of Last Year's COLA. Will It Happen Again in 2027?

Newsletter

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

Related Articles

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?)

Discover exactly who wins and loses under Trump's One Big Beautiful Bill Act (OBBBA). Explore…

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 →

Warning: 9 Reasons The IRS Can Audit You Anytime

8. Claiming non-existent dependents The IRS watches people who are trying to scam them. In…

Read More →

Are You a Homeowner? Here Are 5 Trump Tax Bill Changes That Could Affect You

Final Thoughts: Smart Planning Is More Important Than Ever Trump’s 2025 tax overhaul delivers both…

Read More →
Kamala Harris taxes

Will Kamala Harris Raise My Taxes?’ Let’s Find Out!

Vice President Kamala Harris revealed some of her ambitious proposals as part of a future…

Read More →
Tax credits, reduce, veteran, climate return

Here Are 10 Tax Credits You May Qualify For

While all tax software are a shortcut through which you can find any eligible tax…

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 →
new 2024 tax plan

Biden Proposed a New 2024 Tax Plan (and You Should See It Now)

Low-income housing tax credit The budget proposes to expand and boost the largest federal incentive…

Read More →
taxes

10 Unbelievable Things Your Taxes Are Paying For

7. Studying Border Town Bars In 2017, the National Institutes of Health paid $333,210 for…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Subscribe
  • Unsubscribe
  • Newsletter
  • 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.