Selling a Home — Capital Gains
“I sold a house I lived in for a year; how much capital gains tax do I owe?”
Selling a home after living in it for a year can involve several tax factors, including how long it was owned and used as a primary residence, whether there was any business or rental use, and the amount of gain after considering the home’s tax basis and selling costs. In many cases, the tax result depends on whether any home sale exclusion applies and how much of the gain remains after that exclusion. State tax treatment can also differ from federal treatment, so the final outcome often depends on both federal and state returns, plus the specific facts of the sale. Working through the specifics with a CPA is the cleanest way to land on the right move.
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.
“I sold my house after living there 1 year; how much tax should I expect?”
“How much capital gains tax will I owe if I sold my home after 1 year?”
“I sold the house I lived in for a year; what taxes will I owe?”
“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?”
“I received a 1099-S from the title company after selling my house, do I still have to report the sale to the IRS if all the profit is totally tax-free?”
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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