My real estate agent told me that in addition to state taxes, I may have to pay federal, capital-gains taxes. That doesn't make any sense. The home I sold wasn't much money - only about $40,000 - and I used this money to buy another home. Is she right?Ruiz, Michael...
Selling your home may have more unexpected tasks than anticipated. Learn how to sell your house, if you should hire an agent, and when to accept an offer.
How can I qualify for a reduced exclusion? In certain cases, you can treat part of your profit as tax-free even if you don't pass the two-out-of-five-years tests. A reduced exclusion is available if you sell your house before passing those tests because of: ch...
If you sell a house you didn’t live in for at least two years or that isn't your primary residence, capital gains tax on real estate may apply.
If you decide to sell your house to simplify life, lock in gains, downsize, or relocate for a job, this article will help you minimize your capital gains tax bill. You may even be able to pay no capital gains tax after selling your house for big bucks. ...
Calculating capital gains tax in real estate can be complex. The tax rate depends on several factors: Your income tax bracket Your marital status How long you’ve owned the house Whether the house was yourprimary residence, a secondary residence or an investment property ...
If you are looking to buy a property in France, or already own one, you need to know what sort of tax to expect if and when you come to sell it. On the sale, you will be liable to French capital gains tax whether you are resident there or not. If you are a French resident, ...
Additionally, once you proceed to sell the house,the co-owner who isn't living in the house as their primary residence for at least two of the past five years cannot claim the home sale tax exclusion. Thus, they would have to pay capital gains taxes on whatever profits they would get ...
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Selling a home without a realtor has some benefits. Read more on the process and what paperwork you may need for selling a house by owner.