Selling a Home — Capital Gains
“How do I figure out the tax I owe on a second home sale?”
A second home sale often involves a mix of purchase price, selling costs, and the home’s tax basis, which can make the taxable gain different from the cash received at closing. The answer also depends on whether the property was used personally, rented out, or both, since depreciation and prior improvements can affect the calculation. In many cases, the holding period and any state tax rules can also matter. For a complete picture, the figures from the original purchase, capital improvements, and closing statement are usually the starting points. A short conversation with a CPA can sort out what applies to your specific numbers.
In your 30-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“What tax should I expect from selling my second house?”
“How is the tax on my second home sale calculated?”
“How much capital gains tax applies to my second home sale?”
“How much will the IRS tax me on a second home sale?”
“I sold my primary home for a massive profit after living in it for exactly three years, how do I formally claim the capital gains exclusion on my tax return?”
“I made hundreds of thousands of dollars in massive home improvements over the years, how do I add these costs to my basis to lower my capital gains tax?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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