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Selling a primary residence in less than 2 years. Will I have to pay cap gains? What is the base profit is calculated off? Sale amount? Original Mortgage? Amount owed?
House was listed ~600. Downpayment put mortgage down to ~500. Amount owed currently is ~450. Sale of current house will be ~635. Married filing jointly. Which amount is the profit calculated off of?
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‎June 3, 2019
11:52 AM