Tax Savings Charts
|
|
The Tax Benefits of Homeownership - from the National Association of Home Builder's Housing Economics.com.
|
Table 1: Typical Federal Income Tax Savings In The First Year of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$4,781
|
$4,781
|
$5,520
|
|
|
$250,000
|
|
|
|
|
$2,317
|
$3,861
|
$3,861
|
$4,600
|
|
|
$200,000
|
|
|
|
$1,542
|
$1,765
|
$2,941
|
$2,941
|
$3,680
|
|
|
$180,000
|
|
|
$1,322
|
$1,322
|
$1,544
|
$2,573
|
$2,573
|
$3,312
|
|
|
$160,000
|
|
|
$1,101
|
$1,101
|
$1,323
|
$2,205
|
$2,205
|
$2,944
|
|
|
$140,000
|
|
$919
|
$880
|
$880
|
$1,102
|
$1,837
|
$1,837
|
$2,576
|
|
|
$120,000
|
$698
|
$698
|
$659
|
$659
|
$882
|
$1,469
|
$1,469
|
$2,208
|
|
|
$100,000
|
$477
|
$477
|
$438
|
$438
|
$661
|
$1,101
|
$1,101
|
$1,840
|
|
|
$80,000
|
$256
|
$256
|
$218
|
$218
|
$440
|
$733
|
$733
|
$1,472
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 2: Typical Federal Income Tax Savings Through The First Five Years of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$23,363
|
$23,363
|
$27,057
|
|
|
$250,000
|
|
|
|
|
$11,312
|
$18,854
|
$18,854
|
$22,548
|
|
|
$200,000
|
|
|
|
$7,495
|
$8,607
|
$14,344
|
$14,344
|
$18,038
|
|
|
$180,000
|
|
|
$6,413
|
$6,413
|
$7,524
|
$12,541
|
$12,541
|
$16,234
|
|
|
$160,000
|
|
|
$5,331
|
$5,331
|
$6,442
|
$10,737
|
$10,737
|
$14,431
|
|
|
$140,000
|
|
$4,442
|
$4,248
|
$4,248
|
$5,360
|
$8,933
|
$8,933
|
$12,627
|
|
|
$120,000
|
$3,359
|
$3,359
|
$3,166
|
$3,166
|
$4,277
|
$7,129
|
$7,129
|
$10,823
|
|
|
$100,000
|
$2,277
|
$2,277
|
$2,084
|
$2,084
|
$3,195
|
$5,325
|
$5,325
|
$9,019
|
|
|
$80,000
|
$1,195
|
$1,195
|
$1,002
|
$1,002
|
$2,113
|
$3,521
|
$3,521
|
$7,215
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 3: Typical Federal Income Tax Savings Through The First Twelve Years of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$53,153
|
$53,153
|
$62,018
|
|
|
$250,000
|
|
|
|
|
$25,690
|
$42,817
|
$42,817
|
$51,682
|
|
|
$200,000
|
|
|
|
$16,821
|
$19,488
|
$32,480
|
$32,480
|
$41,346
|
|
|
$180,000
|
|
|
$14,340
|
$14,340
|
$17,007
|
$28,346
|
$28,346
|
$37,211
|
|
|
$160,000
|
|
|
$11,881
|
$11,860
|
$14,527
|
$24,211
|
$24,211
|
$33,077
|
|
|
$140,000
|
|
$9,843
|
$9,397
|
$9,379
|
$12,046
|
$20,077
|
$20,077
|
$28,942
|
|
|
$120,000
|
$7,362
|
$7,362
|
$6,914
|
$6,898
|
$9,565
|
$15,942
|
$15,942
|
$24,807
|
|
|
$100,000
|
$4,881
|
$4,881
|
$4,430
|
$4,417
|
$7,085
|
$11,808
|
$11,808
|
$20,673
|
|
|
$80,000
|
$2,401
|
$2,401
|
$1,947
|
$1,937
|
$4,604
|
$7,673
|
$7673
|
$16,538
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
15.00%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 4: Capital Gains Tax Savings upon Sale
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$32,474
|
$32,474
|
$32,474
|
|
|
$250,000
|
|
|
|
|
$27,062
|
$27,062
|
$27,062
|
$27,062
|
|
|
$200,000
|
|
|
|
$21,650
|
$21,650
|
$21,650
|
$21,650
|
$21,650
|
|
|
$180,000
|
|
|
$19,485
|
$19,485
|
$19,485
|
$19,485
|
$19,485
|
$19,485
|
|
|
$160,000
|
|
|
$17,320
|
$17,320
|
$17,320
|
$17,320
|
$17,320
|
$17,320
|
|
|
$140,000
|
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
|
|
$120,000
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
|
|
$100,000
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
|
|
$80,000
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
0.00%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Capital gains tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
15%
|
15%
|
15%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 5: Typical Federal Income Tax Savings Through Average Duration of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$85,627
|
$85,627
|
$94,493
|
|
|
$250,000
|
|
|
|
|
$52,752
|
$69,879
|
$69,879
|
$78,744
|
|
|
$200,000
|
|
|
|
$38,471
|
$41,138
|
$54,130
|
$54,130
|
$62,995
|
|
|
$180,000
|
|
|
$33,825
|
$33,825
|
$36,492
|
$47,830
|
$47,830
|
$56,696
|
|
|
$160,000
|
|
|
$29,200
|
$29,179
|
$31,846
|
$41,531
|
$41,531
|
$50,396
|
|
|
$140,000
|
|
$24,998
|
$24,552
|
$24,533
|
$27,201
|
$35,231
|
$35,231
|
$44,097
|
|
|
$120,000
|
$20,352
|
$20,352
|
$19,904
|
$19,888
|
$22,555
|
$28,932
|
$28,932
|
$37,797
|
|
|
$100,000
|
$15,706
|
$15,706
|
$15,255
|
$15,242
|
$17,909
|
$22,632
|
$22,632
|
$31,498
|
|
|
$80,000
|
$11,060
|
$11,060
|
$10,607
|
$10,596
|
$13,264
|
$16,333
|
$16,333
|
$25,198
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
0.00%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
Assumes 12 year ownership period, 4.23% annual price appreciation (20 year Case Shiller average), and a 15% capital gains tax rate
The Tax Benefits of Homeownership - from the National Association of Home Builder's Housing Economics.com.
|
Table 1: Typical Federal Income Tax Savings In The First Year of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$4,781
|
$4,781
|
$5,520
|
|
|
$250,000
|
|
|
|
|
$2,317
|
$3,861
|
$3,861
|
$4,600
|
|
|
$200,000
|
|
|
|
$1,542
|
$1,765
|
$2,941
|
$2,941
|
$3,680
|
|
|
$180,000
|
|
|
$1,322
|
$1,322
|
$1,544
|
$2,573
|
$2,573
|
$3,312
|
|
|
$160,000
|
|
|
$1,101
|
$1,101
|
$1,323
|
$2,205
|
$2,205
|
$2,944
|
|
|
$140,000
|
|
$919
|
$880
|
$880
|
$1,102
|
$1,837
|
$1,837
|
$2,576
|
|
|
$120,000
|
$698
|
$698
|
$659
|
$659
|
$882
|
$1,469
|
$1,469
|
$2,208
|
|
|
$100,000
|
$477
|
$477
|
$438
|
$438
|
$661
|
$1,101
|
$1,101
|
$1,840
|
|
|
$80,000
|
$256
|
$256
|
$218
|
$218
|
$440
|
$733
|
$733
|
$1,472
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 2: Typical Federal Income Tax Savings Through The First Five Years of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$23,363
|
$23,363
|
$27,057
|
|
|
$250,000
|
|
|
|
|
$11,312
|
$18,854
|
$18,854
|
$22,548
|
|
|
$200,000
|
|
|
|
$7,495
|
$8,607
|
$14,344
|
$14,344
|
$18,038
|
|
|
$180,000
|
|
|
$6,413
|
$6,413
|
$7,524
|
$12,541
|
$12,541
|
$16,234
|
|
|
$160,000
|
|
|
$5,331
|
$5,331
|
$6,442
|
$10,737
|
$10,737
|
$14,431
|
|
|
$140,000
|
|
$4,442
|
$4,248
|
$4,248
|
$5,360
|
$8,933
|
$8,933
|
$12,627
|
|
|
$120,000
|
$3,359
|
$3,359
|
$3,166
|
$3,166
|
$4,277
|
$7,129
|
$7,129
|
$10,823
|
|
|
$100,000
|
$2,277
|
$2,277
|
$2,084
|
$2,084
|
$3,195
|
$5,325
|
$5,325
|
$9,019
|
|
|
$80,000
|
$1,195
|
$1,195
|
$1,002
|
$1,002
|
$2,113
|
$3,521
|
$3,521
|
$7,215
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 3: Typical Federal Income Tax Savings Through The First Twelve Years of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$53,153
|
$53,153
|
$62,018
|
|
|
$250,000
|
|
|
|
|
$25,690
|
$42,817
|
$42,817
|
$51,682
|
|
|
$200,000
|
|
|
|
$16,821
|
$19,488
|
$32,480
|
$32,480
|
$41,346
|
|
|
$180,000
|
|
|
$14,340
|
$14,340
|
$17,007
|
$28,346
|
$28,346
|
$37,211
|
|
|
$160,000
|
|
|
$11,881
|
$11,860
|
$14,527
|
$24,211
|
$24,211
|
$33,077
|
|
|
$140,000
|
|
$9,843
|
$9,397
|
$9,379
|
$12,046
|
$20,077
|
$20,077
|
$28,942
|
|
|
$120,000
|
$7,362
|
$7,362
|
$6,914
|
$6,898
|
$9,565
|
$15,942
|
$15,942
|
$24,807
|
|
|
$100,000
|
$4,881
|
$4,881
|
$4,430
|
$4,417
|
$7,085
|
$11,808
|
$11,808
|
$20,673
|
|
|
$80,000
|
$2,401
|
$2,401
|
$1,947
|
$1,937
|
$4,604
|
$7,673
|
$7673
|
$16,538
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
15.00%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 4: Capital Gains Tax Savings upon Sale
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$32,474
|
$32,474
|
$32,474
|
|
|
$250,000
|
|
|
|
|
$27,062
|
$27,062
|
$27,062
|
$27,062
|
|
|
$200,000
|
|
|
|
$21,650
|
$21,650
|
$21,650
|
$21,650
|
$21,650
|
|
|
$180,000
|
|
|
$19,485
|
$19,485
|
$19,485
|
$19,485
|
$19,485
|
$19,485
|
|
|
$160,000
|
|
|
$17,320
|
$17,320
|
$17,320
|
$17,320
|
$17,320
|
$17,320
|
|
|
$140,000
|
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
$15,155
|
|
|
$120,000
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
$12,990
|
|
|
$100,000
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
$10,825
|
|
|
$80,000
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
$8,660
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
0.00%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Capital gains tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
15%
|
15%
|
15%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
|
Table 5: Typical Federal Income Tax Savings Through Average Duration of Homeownership
|
|
Mortgage Amount
|
|
|
|
|
|
|
|
|
|
|
$300,000
|
|
|
|
|
|
$85,627
|
$85,627
|
$94,493
|
|
|
$250,000
|
|
|
|
|
$52,752
|
$69,879
|
$69,879
|
$78,744
|
|
|
$200,000
|
|
|
|
$38,471
|
$41,138
|
$54,130
|
$54,130
|
$62,995
|
|
|
$180,000
|
|
|
$33,825
|
$33,825
|
$36,492
|
$47,830
|
$47,830
|
$56,696
|
|
|
$160,000
|
|
|
$29,200
|
$29,179
|
$31,846
|
$41,531
|
$41,531
|
$50,396
|
|
|
$140,000
|
|
$24,998
|
$24,552
|
$24,533
|
$27,201
|
$35,231
|
$35,231
|
$44,097
|
|
|
$120,000
|
$20,352
|
$20,352
|
$19,904
|
$19,888
|
$22,555
|
$28,932
|
$28,932
|
$37,797
|
|
|
$100,000
|
$15,706
|
$15,706
|
$15,255
|
$15,242
|
$17,909
|
$22,632
|
$22,632
|
$31,498
|
|
|
$80,000
|
$11,060
|
$11,060
|
$10,607
|
$10,596
|
$13,264
|
$16,333
|
$16,333
|
$25,198
|
|
|
Borrower Income
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
$90,000
|
$100,000
|
$150,000
|
|
|
Average Taxable Income*
|
$15,175
|
$25,175
|
$35,433
|
$45,433
|
$53,951
|
$63,951
|
$73,951
|
$119,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Source: NAHB Estimates using IRS SOI Data
|
|
|
|
|
|
|
|
|
|
Interest rate
|
0.00%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
5.86%
|
|
|
Marginal tax rate
|
15%
|
15%
|
15%
|
15%
|
15%
|
25%
|
25%
|
25%
|
|
Filing Status: Married Couples filing Jointly
Tax Rates: In effect during calendar year 2009
Interest Rate: FHLMC Primary Market Survey, 4th Quarter 2008 Average
* Borrower income minus average personal exemptions and itemized deductions. Data from IRS Statistics of Income.
Assumes 12 year ownership period, 4.23% annual price appreciation (20 year Case Shiller average), and a 15% capital gains tax rate
|
|
|
|
|
|