Other financial discussions


@millere201 wrote:

....if I reinvest into another home, will I have to still pay capitol gains...


Reinvesting in another home will have absolutely no impact on any capital gains tax that may be due as a result of the sale of your current home. That rule was eliminated over 20 years ago and is no longer in effect.

 

However, you may qualify for a partial exclusion since your move was work-related.

 

See https://www.irs.gov/publications/p523#en_US_2020_publink100073097

 

 

 

You can calculate your partial exclusion by completing the worksheet at the IRS web site (link below).

 

https://www.irs.gov/publications/p523#en_US_2020_publink100073100