Selling a Home — Capital Gains
“How much will the IRS tax me on a second home sale?”
The tax treatment of a second home sale often depends on how the property was used, how long it was owned, and whether it was ever rented or used as a personal residence. In many cases, the IRS looks at the gain after subtracting the property’s adjusted basis and certain selling costs, and the result may be treated differently than a primary residence sale. Other factors can include depreciation taken, the seller’s filing status, and whether state income tax also applies. Because second homes can involve both capital gain and recapture issues, the final tax picture is often more nuanced than a simple percentage. A CPA who reads your specifics can usually tell you, in plain English, where this lands.
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.
“How do I figure out the tax I owe on a second home sale?”
“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?”
“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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