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If i sell a house how much capital gains tax do I haveto pay

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You need to subtract the initial cost of the home, and any major improvements you have made to the home from the final selling price of the home before you can figure capital gains tax.

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If the house is your principal residence and you pass the rules of having lived there, ( 2 out of the past 5 years) you will pay only on any gain that might be over the exclusion amount. 250,000.00 for single, 500,000.00 for married filing joint. For most people they never have to pay any tax on the gain of the sale of their homes. If it was a rental the rules are of course different.

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