Capital gains tax on real estate

We bought a home in March of 2016 in Oregon. I want to sell it so we can move to Connecticut with my job. Will I need to pay on the income I get from the proceed of the home?

posted

If you meet the requirements of the gain exclusion, you have no reporting requirements regarding this transaction...

See this IRS link for more information on the exclusion:

https://www.irs.gov/taxtopics/tc701.html

If married filing jointly, and have an income less than $91,000, are capital gains tax owed on the excess profit above the $500,000 exemption on a house sale?

in Deductions & credits

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