Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

taxes

Posted on: 21st Mar, 2008 04:18 pm
Where do I look to find the laws in regards to paying taxes for a first time selling of a home or if there is a way that a person may be exempt from those taxes?
Hi judylh,

Welcome to the forum.

After selling the property if you profit any amount then you will have pay capital gain tax. But you can get capital gain tax exemption on the sale profit for up to $250,000.

Check put the Capital gain tax exemption limit at http://www.mortgagefit.com/know-how/capitalgainstax.html#14089

Feel free if you have any further questions.

Best of luck,
Larry
Posted on: 22nd May, 2008 02:48 am
Page loaded in 0.057 seconds.