I recently sold my house that I owned and lived in for 2 years. I made around $12K in profit. Will I be taxed on the profit?

[michael-crum]

I owned a house which I lived in for 736 days.  I made about $12K in profit when I sold the house.  Since I only owned the house for 2 years, will I be taxed on the $12K?

[KenH1 · Accepted solution]

No you will not be taxed, since you owned and lived in the house for at least 2 years, and the gain was less than $250,000.  You do not need to report it.