Are capital gains taxes from home sale based on profit or overall sale price?

Reddit Personal Finance
08-12
139
0

Are capital gains taxes from home sale based on profit or overall sale price? My home has sold for $400k, yielding about a $150k profit based on my purchase price of the property years ago. I am single, am I subject to capital gains taxes?
submitted by /u/KangarooOverall1247

Visit Direct Link

Upvote 9

Category:

Personal Finance

Tags:

based
capital
sale

I stumbled into a nice situation and I am reflecting on how it will impact my financial plan
Balance transfer offers, which one is better?
Help standard deduction
Removing myself from my mother’s CC

TopHot

TopHot

Are capital gains taxes from home sale based on profit or overall sale price?

You Might Also Like

Post comment Cancel reply

TopHot

Author Stats

Is It Time to Transfer Frozen Russian Assets to Ukraine? Calls Grow Louder.

Chinese Company to Single Workers: Get Married or Get Out

Biden’s Envoy to Fight Antisemitism Says She Saw Surge of Hate After Oct. 7