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Updated 6 months ago on . Most recent reply

User Stats

7
Posts
5
Votes
Casey Hampton
5
Votes |
7
Posts

Primary Home Sale

Casey Hampton
Posted

Hello all,

I need clarification on capital gains tax. I bought my primary residence (Texas) in 2012, cash for 850k. I have not gotten it appraised but pay taxes for $1.5M. I am looking to sell and am also getting married soon. Is my math correct? 650k gain, if sold single I would have to pay 15% on 400k (60k) and if I sold married I would pay 15% on 150k (22.5k)? 

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