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suetrue2020
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If I sell a house for cash only. Do I have to claim capital gains tax on my taxes?

 
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tagteam
Level 15

If I sell a house for cash only. Do I have to claim capital gains tax on my taxes?

See https://www.irs.gov/taxtopics/tc701

 

Note the exclusion for a principal residence.

 

 

 

Otherwise, it makes no difference whether you sell for cash or provide financing, with the exception of installment sale treatment.

 

See https://www.irs.gov/taxtopics/tc705

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1 Reply
tagteam
Level 15

If I sell a house for cash only. Do I have to claim capital gains tax on my taxes?

See https://www.irs.gov/taxtopics/tc701

 

Note the exclusion for a principal residence.

 

 

 

Otherwise, it makes no difference whether you sell for cash or provide financing, with the exception of installment sale treatment.

 

See https://www.irs.gov/taxtopics/tc705

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