How much would I have to pay in taxes if I sell my home for a profit?

Answer

If you’ve lived in the house as your primary residence for at least two of the past five years, you won’t owe taxes on the sale. The federal government allows a single taxpayer to receive up to $250k in profits without tax consequences, and a married couple filing jointly up to $500k. If you lived in the house for less than a year, you’ll pay taxes on that $50k at your regular tax rate.

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