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Updated about 1 year ago on . Most recent reply

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Brett Smith
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Tax, SDIRAs & Cost Segregation

Capital Gains Tax on House Owned Less Than Two Years

Brett Smith
Posted

Bought a house (our first) we’re not happy with and plan to sell before 2 years of ownership. The market is hot so we might make a profit.

How do I calculate the actual capital gains profit? 

When I calculate taxes on the profit which closing costs are deductible against the capital gains?

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