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Get your taxes done using TurboTax
If you have a lump sum of income during the first quarter of the year (January 1-March 31), an estimated tax payment will be due April 15, 2023. You can pay at www.irs.gov/payments; be sure to select "2023 estimated taxes" from the menu.
If you owned the home at least 2 years and lived in it as your main home for at least 2 of the past 5 years, you can exclude the first $250,000 of capital gains from taxation (or $500,000 of gains if you are married filing jointly). Other gains will be long term capital gains and taxed at 15% for most taxpayers and 20% for higher income taxpayers.
‎December 20, 2022
8:03 AM
815 Views