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    3. I want to sell my beach home that has been my primary residence for over a year and purchase a townhome in same state another county. Do I have to pay capitol gaines tax ?
    I want to sell my beach home that has been my primary residence for over a year and purchase a townhome in same state another county. Do I have to pay capitol gaines tax ?

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    0  Views: 443 Answers: 1 Posted: 14 years ago
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      Depends upon the value.  The laws have changed and now on primary residences you have quite a large amount allowable before you have to pay.  Check with your accountant, or tax preparer.  On investment property however, you pay, no matter what amount, a percentage of difference from what it cost you, and the selling price you got for it. 

      12 years ago. Rating: 1
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