https://ttlc.intuit.com/community/taxes/discussion/capital-gains/01/2790959#M1030702 <P>I live in Massachusetts and I am Single.&nbsp; If I purchased my house for 263,000 and sell it for 1,000,000, how much will I owe in capital gains tax?</P> Tue, 10 Mar 2026 07:03:33 GMT bae1266 2026-03-10T07:03:33Z https://ttlc.intuit.com/community/taxes/discussion/capital-gains/01/2790959#M1030702 <P>I live in Massachusetts and I am Single.&nbsp; If I purchased my house for 263,000 and sell it for 1,000,000, how much will I owe in capital gains tax?</P> Tue, 10 Mar 2026 07:03:33 GMT https://ttlc.intuit.com/community/taxes/discussion/capital-gains/01/2790959#M1030702 bae1266 2026-03-10T07:03:33Z https://ttlc.intuit.com/community/taxes/discussion/re-capital-gains/01/2791284#M1030703 <P>Your question has me believe you sold your single family home that was your primary residence for two of the last five years.&nbsp; With that, you are exempt from paying capital gains tax on the first $250,000.00 in profit.&nbsp; Thus, you sold it for $1,000,000.00, minus your purchase price of $263,000.00 gives you a gains of $737,000.00.&nbsp; The first $250,000.00 is exempt, so your taxable capital gain is $487,000.00 ($737,000.00 - $250,00.00).</P> Wed, 16 Nov 2022 17:41:22 GMT https://ttlc.intuit.com/community/taxes/discussion/re-capital-gains/01/2791284#M1030703 rferreira 1 2022-11-16T17:41:22Z