Any tips for minimizing CGT on home sale

[latearlyFI]

Hi

So I have been very lucky that my home jumped in value & I've decided to cash in and sell. I'll be making about $600k gain and I'm wondering if others here who may have enjoyed the same in this market and found ways to minimize the CGT.

So far I have: -

Make maximum payment to IRA (I'm Self Employed)
Make maximum payment to Kids 529 College accounts

I know I can claim the first $250k as a single homeowner and reduce it by any capital expenses. But I wondered if the smart people on here have some other strategies.

By the way I'm a low income earner, so if I could roll some gain to next year somehow that would help.

Thanks in advance.

[unemployable]

Hold on to the house, rent it out (thus converting it into an investment property) and do a 1031 exchange? I think you can sell the place and buy a less expansive place, pay tax only on the difference, and perform this transaction in multiple years to smooth out the tax bite in any one year.

[bostonimproper]

Get married? Then you’ll have a $500K exemption.

[latearlyFI]

Oh I already sold the house.

Getting divorced after getting Married to obtain the $500k exemption would cost me more! lol

[unemployable]

The time to minimize taxes is before the taxable event occurs

[plantingtheseed]

Check the cost basis of the house: i.e. any home improvements with records?
https://www.irs.gov/faqs/capital-gains- ... home-etc-3

offset capital gains - i.e. investment loss.
https://www.irs.gov/taxtopics/tc409