Skip to main content
June 1, 2019
Question

If My adjusted income is 155,000.and I sold a 2nd home for a net profit of 430,000 is that amt added to my ordinary adjusted income and all taxed at the combined rate?

  • June 1, 2019
  • 1 reply
  • 0 views
No text available

1 reply

Employee
June 1, 2019

No, the sale would be a capital gains sale which is taxed at a different rate than your ordinary income. 

https://www.irs.gov/taxtopics/tc409

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"