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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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I am about to sell my house and move into an apartment. I have

Customer Question

I am about to sell my house and move into an apartment. I have gains and some losses from homes sold in previous years. How do I know if those taxes will come due because I am not moving into another home that I own.
Submitted: 1 year ago.
Category: Tax
Expert:  Richard replied 1 year ago.
Good afternoon Paula. My name is ***** ***** I look forward to helping you. Can you provide me a bit more information? What is your gain amount on this house [i.e., (i)sale price, less ii) purchase price plus improvements]? Has this been you principal residence for at least 2 of the last 5 years? Are you married? Thanks.