I sold my previous home I purchased in 2018 in July of this year (2025). I reside in FL and I know that I will be open to taxation on federal capital gains for the sale and my question is this...
My profits did not exceed the $250,000 as I am a single filer and I lived in the house the entire time I owned it, never rented it and was my primary residence the entire 7 years. Will I get the 1099 form when it comes time to file? Am I correct in from the little that I do understand from what I've read that since I did not make more than the $250k in profits I won't have to pay any taxes on the federal capital gains for FL? This is the first time going through this and I am so unsure and am having anxiety over this. Any help is appreciated. Thank you. - Dave
