LifePlan Financial
Thoughtful Planning for Life & Legacy

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Personal Finance Calendar

This handy calendar is ideal for helping remember the year’s most important financial events. Download it HERE.

2026 Tax & Retirement Reference Guide

Click HERE to download the 2026 Tax & Retirement Reference Guide from Charles Schwab.

Financial Calculators

Auto Loan Early Payoff
Car Loan Calculator
Debt Snowball Calculator
Life Insurance Calculator
Investment Goal Calculator
Mortgage Payoff Calculator
Required Minimum Distribution (RMD) Calculator
Social Security Benefit Calculator

Capital Gains Tax When Selling Your Home

Click on the individual pictures to zoom in, or click HERE to view the entire infographic.

In the center there is a small house with a red roof surrounded by trees with the sun peeking over the horizon. Behind it is a dark blue circle with the words “Capital Gains Tax: When Selling Your Home.” The background is light blue with an arrow pointing down under the house. In the foreground of the house, there is a “For Sale” sign out front. Below the house there is text that reads: When you sell your home, you may be liable for capital gains tax if it has appreciated in value over your ownership period.
In the center there is a family who is moving houses. There is a mother crouching next to two boxes on the left hand side, a daughter holding a house plant in the middle, and a father holding a box while standing up. Behind the mother there is a dark blue circle with wedding rings and sparkles. And behind the father there is a light pink circle. The background is light blue with an arrow pointing down below the family. Below the family there is text that reads: Married homeowners pay no tax on the first 500,000 dollars of profit on their home. (250,000 dollars for single homeowners).
In the center there is a person wearing overalls and a painter’s cap. They are painting the background as the color transitions from blue to orange with an arrow below the painter. Pictures of mountains and flowers are hanging on the wall on the left hand side. On the right hand side there is a hammer and screwdriver floating. There is also a bureau placed below the tools and a houseplant in the foreground. Behind these images are bright orange and yellow oval shapes. Below the painter there is text that reads: To qualify, you must meet both the ownership test and the use test. That means you’ve owned and used the house as your main home for at least two out of the last five years, before the sale. You can only use this exemption once every two years. When calculating your profit, you may also add the costs and cost basis for any home improvements.
In the center there is a “For Sale” sign that has a “Sold” sign pasted over it. Two hands are shaking in the foreground inside a dark blue circle. The background is orange with an arrow below the sign. Below the sign there is text that reads: This illustration is for informational purposes only and is not a replacement for real-life advice regarding capital gains taxes when selling your home. Make sure to consult your tax professional if you have questions about how capital gains may apply in your situation.
Key Money Moments

Four times you should consider talking to a financial pro. Click HERE to view.

What is your Risk Number?

Everyone has a Risk Number. Find out what yours is by clicking the dial below.

Quick Contact

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Contact Us

LifePlan Financial, LLC.

226 N. Broad Street, Mankato, MN 56001

Phone: 507-625-3507
Fax: 507-385-7871
Email: info@lifeplan-financial.com

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