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tedstaxman
Level 1

I sold a house in 2018 I owned for 15 years. I usually make less than 38k a year. Is this profit considered a long term capital gains at 0%?

 
1 Reply
JulieCo
New Member

I sold a house in 2018 I owned for 15 years. I usually make less than 38k a year. Is this profit considered a long term capital gains at 0%?

It depends.  If the home sale was of your primary home, any gain could more than likely be excluded through the provisions below.  But, if this was a second home (and not one rented out), then the gain is a long term capital gain.  The rate will depend upon your income on your return.

Home sale and whether taxable:

https://ttlc.intuit.com/replies/3300213

Below are steps to enter a sale of a second home:

https://ttlc.intuit.com/replies/4241480



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