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michael-crum
New Member

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?

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?

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KenH1
New Member

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?

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.

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KenH1
New Member

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?

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.

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