Quick Read

• Selling a home for $890,000 leaves roughly $328,000 taxable after the $500,000 joint exclusion, adding $9,240 in Medicare surcharges two years later.

• Section 121’s $500,000 joint exclusion ceiling hasn’t risen with inflation since 1997, leaving longtime homeowners exposed to large taxable gains on ordinary homes.

• Rebuilding cost basis with documented improvements, deferring optional IRA withdrawals, and budgeting for the Medicare surcharge from proceeds reduces the sale’s financial impact.

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For more than 40 years, the house did exactly what its owners hoped it would do. A couple who paid $62,000 for their home in 1984 closes on the sale this year at $890,000. The IRS lets them exclude up to $500,000 of gain under Internal Revenue Code Section 121. Any taxable gain left after the exclusion, basis adjustments and selling expenses flows into adjusted gross income (AGI). That figure helps determine the modified adjusted gross income (MAGI) Social Security uses to calculate Medicare’s income-related monthly adjustment amount (IRMAA) two years later. The sale closes in 2026. The Medicare bill arrives in 2028.

Where the Section 121 Ceiling Bites

Section 121 generally excludes up to $250,000 of gain for a single homeowner and $500,000 for a married couple filing jointly. For the full joint exclusion, one spouse generally must satisfy the ownership test, both must have used the property as their principal residence for at least two of the previous five years, and neither can have used the exclusion on another sale during the prior two years.

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On this sale, the raw gain is $828,000. Subtract the joint exclusion and roughly $328,000 remains before documented improvements increase the basis and selling expenses reduce the amount realized. That remainder is taxable long-term capital gain reported on the return. The $250,000 and $500,000 limits were written into law in 1997 and were not indexed for inflation. A ceiling that once looked generous has spent nearly three decades standing still while longtime owners watched ordinary homes accumulate extraordinary gains.

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MapQuest announced last week it had soared to the top of Apple’s App Store navigation rankings following its decision to keep the former name of Lake America, Lake Ontario, on its maps.

Hundreds of thousands of people downloaded the app after it reaffirmed it would continue using the historical names for lakes and gulfs, driving usage to roughly 50 times its normal level, according to MapQuest.

The company said it was the No. 1 navigation app and the No. 8 free app overall in the U.S. Apple App Store as of 7 p.m. PDT on Aug. 30. It also climbed to No. 2 among all free apps in Canada.

“We took the same approach we did with the Gulf of Mexico: be part of the conversation, and give people an app that keeps the names they’re familiar with,” Doug Berger, general manager of MapQuest, said in a statement.

APPLE MAPS RENAMES LAKE ONTARIO ‘LAKE AMERICA’ FOR US USERS AFTER TRUMP ORDER

MapQuest announced last week it had soared to the top of Apple’s App Store navigation rankings after its decision to keep the name Lake Ontario on its maps. (Cole Burston / AFP via Getty Images)

“Hundreds of thousands of people signaled to us this weekend that we got it right, by downloading our app,” Berger added.

The surge came after President Donald Trump ordered the body of water be renamed “Lake America.”

While Google Maps and Apple Maps adopted the change for U.S. users, MapQuest said it would continue displaying Lake Ontario, mirroring its earlier decision not to replace “Gulf of Mexico” with “Gulf of America.”

The company also expanded a feature allowing users to rename Lake Ontario within the app themselves, building on a tool it first launched for the Gulf of Mexico in February 2025.

GOOGLE MAPS CHANGES LAKE ONTARIO TO ‘LAKE AMERICA’ FOR US USERS AFTER TRUMP ORDER: ‘IT’S OFFICIAL!’

The surge came after President Trump ordered Lake Ontario to be renamed “Lake America.” (Jim WATSON / AFP via Getty Images)

Eric Yaverbaum, CEO of public relations firm Ericho Communications, told FOX Business the company capitalized on a cultural moment closely tied to its business.

“What worked for them was they didn’t force this,” Yaverbaum said. “They’re an expert at one thing: maps. They get to weigh in on one thing: maps.”

Yaverbaum said the viral attention presents MapQuest with an opportunity to revive its brand and reconnect with consumers.

“You want to have a redo on your brand, you want to do a rebrand — boy, did they just open a big door,” he said.

GOOGLE MAPS UPDATE: GULF OF AMERICA, MOUNT MCKINLEY WILL BE IN AFTER TRUMP ORDERS NAME CHANGES

US President Donald Trump displays a signed executive order in the Oval Office of the White House in Washington, DC, on Aug. 27, 2026. (Al Drago/The Washington Post/Bloomberg via Getty Images)

However, Yaverbaum cautioned that companies should be careful when wading into political issues.

“Generally speaking, I counsel my clients to stay out of politics. You’re going to lose half your audience. So if you’re going to play, play safely,” he said.

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Trump signed an executive order on Aug. 27 directing the Interior Department to officially rename Lake Ontario “Lake America” within the United States, amid ongoing trade tensions between Washington and Ottawa.

MapQuest could not immediately be reached by FOX Business for comment.

Indonesia is expanding renewable energy investments to meet rising demand, enhance energy security, and achieve decarbonization goals, creating opportunities for foreign investors across infrastructure, manufacturing, and clean energy industries.

Growth in Indonesia’s Renewable Energy Sector

Indonesia is rapidly advancing its renewable energy investments to meet increasing electricity demand and enhance energy security. With substantial renewable resources and a growing pipeline of large-scale projects, the country is opening up investment opportunities across the renewable energy value chain. The focus is on integrating clean energy to help achieve long-term decarbonization goals. This examination highlights the commercial opportunities available to foreign investors and explores the regulatory considerations for entering Indonesia’s renewable energy market.

Government Plans and Renewable Targets

In response to climbing electricity needs and environmental objectives, Indonesia’s government has expanded its renewable energy initiatives. Through PLN’s 2025-2034 Electricity Supply Business Plan (RUPTL), the government plans for 42.6 GW of renewable capacity, constituting about 61% of new generation. Noteworthy allocations include 17.1 GW for solar power, 11.7 GW for hydropower, and significant targets for wind, geothermal, and bioenergy. These initiatives underscore the country’s commitment to expanding its clean energy footprint.

Investment Opportunities and Infrastructure Development

Private investment is pivotal in realizing Indonesia’s renewable ambitions, with Independent Power Producers (IPPs) anticipated to develop 73% of the planned capacity. Investments are also flowing into downstream nickel processing, electric vehicle manufacturing, and industrial decarbonization. Such expansions necessitate robust investments in energy infrastructure, including 10.3 GW of energy storage and extensive transmission networks. International cooperation, such as with the Japan Bank for International Cooperation, is key in advancing projects like smart grids, enhancing Indonesia’s energy landscape and presenting lucrative business opportunities.

Entering Indonesia’s Renewable Energy Market: A Guide for International Investors

Indonesia’s renewable energy sector presents significant opportunities for foreign investors, driven by the country’s abundant natural resources and government initiatives towards sustainability. With ambitious targets to increase renewable energy’s share in the national energy mix, Indonesia is focusing on solar, wind, geothermal, and hydropower projects. The government offers various incentives, including tax breaks and simplified licensing processes, making the landscape increasingly attractive for international stakeholders.

Investing in this sector involves understanding local regulations and market dynamics. Partnering with local firms can provide valuable insights and facilitate smoother entry. Due diligence on regulatory compliance, market forecasts, and potential risks is crucial. Effective engagement with local communities and stakeholders helps in navigating socio-cultural nuances, ensuring long-term project success and sustainability.

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Spotify.

August CPI could decide the Fed’s September rate move. (0:17) Oracle earnings all about AI spending. (1:34) Apple’s new CEO to unveil its biggest iPhone shakeup in years. (2:23)

The following is an abridged transcript:

This holiday shortened-week brings make-of-break consumer price numbers for this months’ Fed rate meeting.

With the market closed Monday for Labor Day, the August CPI arrives Friday.

Economists expect a 0.4% rise in the headline number, keeping the annual rate at 3.4%. The core rate, ex food and energy, is seen rising 0.2%, dipping to 2.4% annually from 2.5%.

Wells Fargo economists say that while headline inflation remains “influenced by the ebbs and flows of the conflict in the Middle East, core inflation remains contained.”

A hot inflation report could cement an FOMC rate hike later this month. Fed Chairman Kevin Warsh’s hawkish Jackson Hole speech spiked odds of a quarter-point rise, but President Donald Trump’s threat to cease trade with a number of nations if rates didn’t come down made it a coin toss. Friday’s better-than-expected rise in payrolls puts hike odds now at 60%.

SA analyst Damir Tokic says the Fed is facing late-cycle dynamics with a strong labor market and high inflation and should “consider inverting the yield curve, or hiking above 5%, starting with a September hike.”

“Otherwise, long-term rates (US10Y) should spike as inflation expectations de-anchor, which would force the Fed to hike even more aggressively due to the 2022-like policy error,” he said.

On the earnings front, Oracle (ORCL) will give the market another glimpse of hyperscaler revenue versus capex when it reports Thursday.

The consensus is for EPS of $1.74 on revenue of $19.13B.

SA analyst JD Research says despite infrastructure buildout risks, Oracle’s software business and multi-cloud AI database are delivering strong growth and mitigating AI execution concerns.

But ORCL bear Paul Franke says escalating AI LLM fees on consumers and businesses are prompting users to cut back on queries, “raising doubts about the sustainability of ORCL’s hyperscaler strategy.”

Here’s how the rest of the earnings calendar shapes up:

GameStop (GME) reports Tuesday.

On Wednesday, Chewy (CHWY) weighs in.

Macy’s (M) and Adobe (ADBE) join Oracle on Thursday.

And Kroger (KR) is due Friday.

Also this week, Apple’s (AAPL) Wednesday product launch event, “Surprise and Shine,” may be its most significant in nearly a decade.

Morgan Stanley analyst Erik Woodring says that along with predictable product launches, “the event will prove to be anything but ordinary.”

“This is because for the first time in 15 years, Tim Cook will not headline the event; instead, new CEO John Ternus will lead the company into its first major iPhone form factor change in nearly 10 years, unveiling the much-anticipated iPhone Fold (Ultra?), alongside what are likely to be the broadest and most significant, like-for-like iPhone price hikes in company history.”

In the news this weekend, should a greenback equal a loonie?

President Donald Trump criticized the value of Canada’s currency, opening a new front in an escalating trade dispute between the two neighboring countries.

“Canada’s Dollar imbalance with the U.S. is unacceptable,” Trump said in a post on Truth Social. “It has been that way for years — but no longer!”

Trump did not specify what he meant by an imbalance or any action his administration might take. The Canadian dollar gives the country’s exporters a pricing advantage in the U.S. market and recently traded around 72 U.S. cents.

And for income investors, Cigna (CI) goes ex-dividend Tuesday, paying out Sept. 23.

HP (HPQ) goes ex-dividend Wednesday, with a Sept. 9 payout date.

Nvidia (NVDA) goes ex-dividend Thursday, paying out on Oct. 1.

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