Do you have to pay capital gains tax when you sell your home?

+1 vote
asked Dec 21, 2018 in Real Estate - Renting by Pinkmeiastunian (220 points)
Do you have to pay capital gains tax when you sell your home?

1 Answer

0 votes
answered Dec 21, 2018 by basherisia (320 points)
You only have to pay a Capital Gains Tax when you sell your home if you make more than $250,000.00 profit on the home sale and you've lived in the home for two of the five years before you sale the home.

If you're married and own the home jointly then you don't have to pay Capital Gains Tax unless you profit $500,000.00 or more from the sale of your home.

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