We live in Arizona. We sold our house, which was fully paid for, last November 20, 2020 for $417,000. Then, in January 4, 2021 we purchased outright a new house for $380,000. After we paid all the closing fees the capital gains was about $8000.
When we filed our taxes via Turbo Tax application, it asked us if we moved in 2020. We answered that we did. it did not ask us to fill out any special information about the sale. So, we filed the returns automatically and were done with the tax filing.
We remain concerned that we have not paid the full taxes on the sale of our house. Should we be concerned? Will we have to pay them next year; or, are we OK?
