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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15016
Experience:  15years with H & R Block. Divisional leader, Instructor
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I bought my home over four years ago for $87,000. It has been

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I bought my home over four years ago for $87,000. It has been my primary residence the entire time. I am now selling my home and it is going to sell for $123,000. My question is will I owe capital gains for the money I made on my home?

Robin D. :

Hello and thanks for trusting me to help you today. I am a tax adviser with over 15 years of experience.

Robin D. :

You will be allowed to use your exclusion on gain form selling your main home.

Robin D. :

Because you used your property as your main home for at least 2 out of the last 5 years

Robin D. :

you are allowed to exclude than gain (up to $250,000 if you are single).

Robin D. :

You are not even required to report the sale unless you receive a 1099S.

Robin D. :

Did you need me to clarify any of the info?

Robin D. :

My goal is to give you excellent service. If you are satisfied, please rate me. If you have follow-up questions on this same topic, use the reply box below. To start a new conversation with me on a new topic request me again.

Robin D. :

If you could please type something in the box, that lets me know you can see the answer.

Robin D. :

The system said you were typing but nothing shows.

Customer:

Thank you Robin that's all I needed. Thanks for your time.

Robin D. :

I am so glad you could see the answer.

Robin D. :

Your positive rating is always thanks enough.


 

Robin D. :

I really enjoyed working with you – please feel free to request me again when you come back to ask another question.
You will find the request feature when you come back under your MY QUESTIONS section.

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