What will I owe in capital gains when I sell my Forgotten Coast vacation home?

Federal long-term capital gains tax on the profit, at 0, 15, or 20 percent depending on your taxable income, with no Florida state capital gains tax on top of it. The $250,000 and $500,000 primary-residence exclusion does not apply to a home you have used only as a vacation property. The number that matters is your gain, not your sale price, and gain is the sale price minus your adjusted basis minus your selling costs. Every improvement you have made and every dollar of cost to sell reduces it, which is why the owners who plan ahead here consistently keep more of their money.

By Billy Joe Smiley | September 1, 2026

I want to say up front that I am a broker,…

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