Sold home made 200,000. I put 100,000 in new home and 100, 000 into investments.Do I pay income tax to take investment money out to live on?

[MikeFour]

I qualified for no capital gains on 200,000 profit...

[Phillip1 · Accepted solution]

(correction)

If the home was your main residence for 2 out of the 5 years that you owned the home (you qualified for no gain on the sale) there is no tax if you use some of the proceeds from the sale of the home for other investments.

If the money is being taken out of the investment (for example, if you sell the 100,000 investment for a capital gain) you will have to pay tax on the income from the investment.