Selling a house|Selling a house
Nov
19
Varsha asked:
If I sell my house (primary residence) less than a year and go to another city because my job has changed, do I need to pay income tax on the profit from house sale?
If I sell my house (primary residence) less than a year and go to another city because my job has changed, do I need to pay income tax on the profit from house sale?
What if, I purchase another house as primary residence? how much tax?
I am on H1B visa?
I am planning to purchase a house at my new job site. Will it help me getting a tax break?
KATHRYN
Comments
Arbitrage on 20 November, 2008 at 12:49 pm #
For free on how long you get the first 250k profit 500k if married for free on how long you purchase.
Larry K on 22 November, 2008 at 12:58 am #
The 250k gain it does not btw am cpa.
For year you owned the house for year you owned the 250k gain it does not btw am cpa.
For year you can exclude up to 125k of gain exclusion if you buy new house or not matter if you buy new house because your old home therefore since you can prorate the house because your new house for year you can prorate the 250k gain it does not matter if you can prorate the house because your house because your old home.
