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Updated almost 7 years ago,

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1,888
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Jack B.
  • Rental Property Investor
  • Seattle, WA
1,045
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1,888
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Weird tax questions selling my house

Jack B.
  • Rental Property Investor
  • Seattle, WA
Posted

The form escrow provided me asked if the sale of the house is greater than 250K if I'm single or 500K if I'm married. It doesn't ask about capital gains. Heck, I bought the house for more than twice the 250K amount they are asking about and I'm selling it for a little more than that but still under the 250K threshold for capital gains tax. I thought that the sale price was not what was important, that the capital gains were what was important, 250K if single, and 500K if married. I'm not sure the form is written correctly, it doesn't appear to be a standardized form from the IRS but just something the escrow company put together. The sale price is over 250K but I thought it was if the capital gains was more than 250K that I'd owe capital gains taxes. Not sure about this form or how to fill it out.

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