Question

If we have not lived in the home we are selling for 2 out of 5 previous years is there any options when it comes to capital gain? If we have to pay how much?

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Premier Online

Employee

Long term (over one year) are much more favorable but it depends on other income on the return and the amount of the gain you have.

Here are the long term capital gains tax rates:

Tax rate     Single                     Joint                           Head of household

0%           $0 to $38,600           $0-$77,200                $0-$51,700

15%         $38,601-$425,800    $77,201-$479,000     $51,701-$452,400

20%         $425,801 and up       $479,001 and up       $452,401 and up