Home Sale Taxes explains the federal tax basics that may apply when you sell a home. You will learn how gain, adjusted basis, selling costs and the $250,000 or $500,000 exclusion fit together and where exceptions apply. Our guides cover home improvements and basis, selling before two years, former rental homes, inherited homes and divorce. We also show which records to keep from purchase to closing. This is general education drawn from IRS publications, so confirm your own situation with a qualified tax professional.
Divorce home sale taxes hinge on ownership, basis and who reports the gain, not on the cash each spouse receives. Here is how transfers, buyouts and joint sales fit together.
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Inherited home sale taxes depend on basis, selling costs and who reports the sale. See how value at death, gain and cash proceeds differ before you list.
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Home sale tax records are the papers that prove what you paid, improved and received. Learn what to collect, how to rebuild gaps and how long to keep them.
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Selling former rental home taxes depend on your dates, your depreciation and your records. This guide shows how the pieces fit and when to ask a tax professional.
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Selling costs capital gain home questions come down to separating price, proceeds and gain. Learn which transaction costs may affect the calculation and which records prove them.
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The home sale partial exclusion two years rule can shrink the main-home exclusion instead of erasing it. See which reasons count, how the fraction works and what proof to keep.
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Home improvements cost basis sale questions come down to telling capital improvements from repairs and proving what you spent. Learn which records matter and when to ask a professional.
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Your adjusted basis home sale figure decides how much of your price counts as gain. Learn what raises it, what lowers it and which records prove it.
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The home sale capital gains exclusion can shelter gain on a main home, but only when ownership, use and basis facts line up. Learn the tests, the exceptions and the records to keep.
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Taxes when selling a home turn on gain, not price. Learn how basis, selling costs and the main-home exclusion fit together, and which records to keep.
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