I sold a home for $138,000; do I pay capital gains?
No, you will not pay any taxes on your home sale, since your gain was less than $250,000 (or $500,000 for a joint return), and you owned and lived in it for more than 2 years. You do not even need to report it.
I sold a home for $138,000; do I pay capital gains?
No, you will not pay any taxes on your home sale, since your gain was less than $250,000 (or $500,000 for a joint return), and you owned and lived in it for more than 2 years. You do not even need to report it.
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