topic How is capital gains tax paid? in Investors & landlords

How is capital gains tax paid?

ngneer — Sat, 01 Jun 2019 03:06:06 GMT

So if I sell my home this year, I realize I'll have to pay the capital gains tax for the tax year I sold it (2017), but when do I actually pay the tax, how do I pay it, and where is it reflected?

Do I just do my taxes next year for 2017 and write a huge check to Uncle Sam once it's figured out doing my taxes? I'm just trying to figure out how it is paid to the IRS.

If you sell your home at a gain in 2017, this is reportab...

AndreaG — Sat, 01 Jun 2019 03:06:07 GMT

If you sell your home at a gain in 2017, this is reportable on your 2017 tax return and if you have to pay tax you would pay it through the tax return. However, you might qualify to postpone the gain and not have to pay tax on it. Please refer to the following FAQ to learn more. https://ttlc.intuit.com/replies/3300213