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Old 04-09-2022, 07:00 PM
 
1 posts, read 556 times
Reputation: 10

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I am 70 have live here in this house 22 years. I built it in 2000. I am retired for 6 years. Would like to sell and move into a apartment. Not physically to do all the work to keep the place up anymore. My net benefits are from Social Security only at 18,414.00 a year. Will I have to pay capitol gains?
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Old 04-09-2022, 07:38 PM
 
15,444 posts, read 7,511,039 times
Reputation: 19386
If you are single, you have to make a profit of more than $250,000 if it has been your primary residence for some portion of the last 5 years.
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Old 04-09-2022, 09:07 PM
 
7,146 posts, read 4,557,147 times
Reputation: 23392
The rule is you must have lived there for 2 years out of the past 5.
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