Tax Consequences of Selling a House
Submitted by Berk Cleveland Rathmell Wealth Strategies LLC. on April 9th, 2018
Most people are familiar with the concept of having to pay capital gains tax on the profits from the sale of a house if the sale meets certain conditions. If you aren’t familiar with them, the standard rules are that single people can exclude $250,000 of profit from the sale of house from taxes; married or unmarried people who jointly own can exclude $500,000.