Talk of The Villages Florida - View Single Post - Placing profit from sale of home
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Old 02-13-2022, 11:37 AM
Rose Ann Vinci Igoe's Avatar
Rose Ann Vinci Igoe Rose Ann Vinci Igoe is offline
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Quote:
Originally Posted by crc19188 View Post
I am thinking of selling my home. Only lived in it nine months. Is there any way to get around or place profit somewhere to avoid Capital Gains Tax. Please keep politics out of your answers if you can. If you cannot make them funny. Please also need serious answers. Thanks
Dear friends of mine pretty much did the same thing you are thinking of doing now. Bought and sold within 7 months (they had health issues). They sold their house very fast and it almost doubled in value. Prices are going crazy now. Also, I am positive, unless the rules have changed, that as long as you bought another house Equal or higher than the amount you sold your house for, .... You will not be charged capital gains.