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I recently sold my house that I owned and lived in for 2 years. I made around $12K in profit. Will I be taxed on the profit?
I owned a house which I lived in for 736 days. I made about $12K in profit when I sold the house. Since I only owned the house for 2 years, will I be taxed on the $12K?
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June 5, 2019
4:20 PM
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Deductions & credits
No you will not be taxed, since you owned and lived in the house for at least 2 years, and the gain was less than $250,000. You do not need to report it.
June 5, 2019
4:20 PM