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Updated about 5 years ago,

User Stats

111
Posts
15
Votes
JayCinta Henry
  • Investor
  • Mesquite, TX
15
Votes |
111
Posts

Question on capital gains tax, 2+ years owned home.

JayCinta Henry
  • Investor
  • Mesquite, TX
Posted

I heard in a podcast that if you live in a primary home for 2 of 5 years of ownership, that you won't have to pay CGT when you sell it.

Just trying to make sure I got this right - say you bought a home in 01/2018 for say $200k. Your home is now worth $300k and you have been living there as a primary home since 01/2018. After next 01/2020 you can sell that home after that date and not have to pay CGT on the 100k, is that about right? 

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