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Employee
June 1, 2019
Solved

If I have lived in my new house for less that 2 years and then sell it but make no profit, do I still have to pay capital gains?

  • June 1, 2019
  • 1 reply
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Best answer by rjs

If you have no gain (profit), you do not have to pay any tax. You are taxed on the profit. If there's no profit, there is nothing to pay tax on.

(Note that you cannot deduct a loss on your personal residence.)

1 reply

rjs
rjsAnswer
Employee
June 1, 2019

If you have no gain (profit), you do not have to pay any tax. You are taxed on the profit. If there's no profit, there is nothing to pay tax on.

(Note that you cannot deduct a loss on your personal residence.)