I used monies from a retirement fund to buy a second home and paid taxes on what was withdrawn. If I sell home for no gain, will I pay capital gains tax?
The second home was never a rental and will be sold to a sibling for cost.
I used monies from a retirement fund to buy a second home and paid taxes on what was withdrawn. If I sell home for no gain, will I pay capital gains tax?
Fortunately, you will not be taxed on the sale of a second/investment home if you have no gain.
I used monies from a retirement fund to buy a second home and paid taxes on what was withdrawn. If I sell home for no gain, will I pay capital gains tax?
Fortunately, you will not be taxed on the sale of a second/investment home if you have no gain.
