With any of these religious laws, there is going to be a wide range of interpretations with extremists on both ends. As a practical matter you sort of need to follow what your particular group is recommending.arcticpineapplecorp. wrote: ↑Wed May 31, 2023 8:57 pm
that calculator did in fact count home equity, but investopedia says:
not sure if they're right about that. would be interested to know.A personal residence doesn't count toward wealth and thus, doesn't count when calculating zakat. Property used to generate income, such as a rental or vacation home, does.
source: https://www.investopedia.com/terms/z/zakat.asp
Again you also have to try and decide how much you want to follow the spirit versus the letter. Someone above mentioned buying an annuity. A person who does a strict interpretation would figure out the value of that annuity and pay their zakat. Other people will think that is a legit way of going..