Even the sale of a primary or secondary residence can result in a large, unexpected tax burden—especially in high-value markets like California. After the homeowner exclusion is applied, sellers may still face substantial capital gains taxes, state income tax, and the net investment income surtax. Traditional strategies offer little relief for non-investment property owners, limiting after-sale liquidity and future financial planning options.

A homeowner sold a luxury property in California for $2,900,000. Under a conventional sale, the combined tax burden was $309,488, reducing their net proceeds to $1,187,512. Despite the homeowner exclusion, taxes still claimed a meaningful share—limiting flexibility and restricting capital use post-sale.