Taxes on Primary residence

[Account Closed]

If I sell my primary residence and have lived there less than 2 years around what tax rate should I expect to pay on the profit of my home? 

[Taylor Brugna]

Justin Bender How long have you had the property? The sale would be subject to capital gains rates. Short term will be taxed at ordinary income rates and long term will depend on your income level. Make sure you have the cost basis calculated correctly (hint: it's not just the purchase price).