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Level 1

I used monies from a retirement fund to buy a second home and paid taxes on what was withdrawn.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. 

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Level 12

I used monies from a retirement fund to buy a second home and paid taxes on what was withdrawn.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.

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Level 12

I used monies from a retirement fund to buy a second home and paid taxes on what was withdrawn.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.

View solution in original post