<< Back to all Blogs
Login or Create your own free blog
Home > Capital gains?

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!

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]