I am making 15k from the sale, and I am not buying another home. Live in Raleigh, NC does that 15k get added to my income for the year and I pay regular taxes or do i pay a capital gain?
Tag Archives: RESIDENCE
I’m selling my primary residence I lived in for 6 yrs. And trying to find if I pay Capital Gains?
Posted in Homes For Sale
Tagged Capital, capital gain, capital gains, Gain, Home, Income, live, raleigh, raleigh nc, RESIDENCE, sale, year
Capital Gains Tax on a Land Contract Sale?
I purchased two adjoining pieces of property seperately and pland to sell them seperately. It has been my primary residence for the last three years so I qualify for the 250,000 exemption from my understanding.
I am selling one piece for cash and another on a 15 year land contract at 8.75% interest.
The total capital gain even after all the interest is considered will be under 250,000. Do I have to pay any capital gains taxes?
Posted in Land For Sale
Tagged Capital, capital gains tax, contract, exemption, Land, land contract, pland, Property, RESIDENCE, sale, seperately, tax, understanding
What happens to a tax deed sale if the original owner of land you bought filed for bankcruptcy?
Suppose somebody bought a land and 1. it is his principle of residence. 2. it is not his principle of residence. Suppose this happens in the state of CA.
Rental Property Sale Tax?
I moved from my primary residence becuase of job relocation 4 years ago and have rented that home ever since and am selling it now – since I moved for the job, do I still qualify for the reduced exclusion even though I moved 4 years ago?
Posted in Homes For Sale
Tagged becuase, exclusion, Home, job, Property, property sale, Relocation, RENTAL, rental property, RESIDENCE, sale, tax
Will I pay capital gains on my land sale?
I live in Virginia but own land in Arizona that I would like to sell. I plan to use the sale of the land to pay off the existing mortgage on my primary residence in Virginia. Will I still pay capital gains? I have owned the land for three years and it has appreciated quite a bit. Thanks.
Posted in Land For Sale
Tagged arizona, bit, Capital, capital gains, existing mortgage, Land, mortgage, RESIDENCE, sale, Virginia