Understanding Home Ownership and Capital Gains Tax

If you have lived in your home for 2 of the last five years of home ownership, you may not have to pay any capital gains tax. For single homeowners the limit is $250,000 of gain and for married homeowners the limit is $500,000.

The gain is the difference between what you paid for the home and what you sold it for.

If you have any other questions related to residential real estate, call or email Robin at 512.589.7988 or robin@robinscottrealtor.com

Homes sellers are also homebuyers. If you are in the Austin, Texas area and are planing to sell and/or buy a house, contact me for a FREE home market analysis and marketing plan or help finding and purchasing your new home. Robin Scott, REALTOR® 512.589.7988 or robinscottrealtor@gmail.com

Austin, Texas. Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. 512.589.7988.

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