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Capital gains?

June 7th, 2011 at 11:19 am

Does anyone know if we would have to pay capital gains on the sell of our house? This is not the first time we sell a house. The first house was sold in 2004 and we paid $99K and sold for $216K. We were told that when we sold that we did not have to pay capital gains on the sale.

2 Responses to “Capital gains?”

  1. MonkeyMama Says:

    No taxes on gains if you lived there 2 years+ and gain is less than $500k (for married couple).

  2. NJDebbie Says:

    Thank you MonkeyMama! I knew you would help me!

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