Selling a Home — Capital Gains
“I sold my home in Alabama and made about $50,000, will I owe capital gains tax?”
The tax impact of selling a rental property often depends on several moving parts, including your original purchase price, any improvements or depreciation claimed over the years, and the final sale price. In many cases, the character of the gain can also depend on how long the property was held and whether any portion relates to depreciation recapture or other special treatment. State tax rules, closing costs, and prior use of the property can also affect the result, so the amount owed is often not obvious from the sale price alone. 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.
“I sold my home in Alabama and made about $25,000, will I owe capital gains tax?”
“I sold my home in Alabama and made about $75,000, will I owe capital gains tax?”
“I sold my home in Alabama and made about $100,000, will I owe capital gains tax?”
“I sold my home in Alabama and made about $150,000, will I owe capital gains tax?”
“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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