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epb140
New Member

hello, i sold a house in 2024 and plan to sell another one in a couple of months. will i have to pay capital gains tax on the amount less than $250k?

 
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1 Reply
Hal_Al
Level 15

hello, i sold a house in 2024 and plan to sell another one in a couple of months. will i have to pay capital gains tax on the amount less than $250k?

Yes.

 

"Generally, you're not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home. Refer to Publication 523 for the complete eligibility requirements, limitations on the exclusion amount, and exceptions to the two-year rule."

 

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

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