I sold a home for $138,000; do I pay capital gains?

CityStinks — Mon, 03 Jun 2019 17:43:01 GMT

It was purchased for approx. $67,000 26 years ago.

No, you will not pay any taxes on your home sale, since y...

KenH1 — Mon, 03 Jun 2019 17:43:03 GMT

No, you will not pay any taxes on your home sale, since your gain was less than $250,000 (or $500,000 for a joint return), and you owned and lived in it for more than 2 years. You do not even need to report it.

topic I sold a home for $138,000; do I pay capital gains? in Deductions & credits

I sold a home for $138,000; do I pay capital gains?

No, you will not pay any taxes on your home sale, since y...