Does my capital gains tax on a home I owned less than two years effect my Tax free income?
- Max HooplaLv 71 year ago
- SlickterpLv 71 year ago
That depends on what your "tax free"income is.
- Anonymous1 year ago
If you received Social Security Benefits, up to 85% of that may become taxable.
- ocularnervosaLv 71 year ago
You don't pay capital gains on a house. You pay property tax on a house.
- How do you think about the answers? You can sign in to vote the answer.
- regeruggedLv 71 year ago
If your income is tax free, nothing affects it. You will have to pay capital gains tax on the gain on the sale of your home. Better count every penny you spent on the house while you owned it.