THE SUNSHINE STATE'S CAPITAL GAINS TAX: WHAT YOU NEED TO KNOW

When selling a property in FL, you don't be subject to a state-level capital gains tax, maximizing your profits. You should consider the federal government’s principal residence exemption if you've resided in the property for at least two of the past five years—allowing up to $500,000 in exempted gains for spouses or $250,000 for single filers.