Is sale of existing home proceeds taxable?
Taghiarani
Member Posts: 2 Newcomer
is sale of existing home sale proceeds table?
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Answers
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I sold some land I owned with my son and put about half of it into building a tiny home on my daughter's property. How much taxes will I need to pay?
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We are about to close the sale of the property where we used to live. We now live in a different home which we purchased with proceeds of our retirement funds from our former employer. Are the sale proceeds of our old home taxable on this year's return?
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Good question! Generally, the proceeds from the sale of the old home is taxable in the year it was sold.
