Sold Home
“I sold my house and immediately used all the profit to buy a more expensive home, does rolling the money into a new house protect me from capital gains tax?”
Selling a home and putting the proceeds into a more expensive replacement property can raise several tax questions, but the tax treatment often depends on how the home was used, how long it was owned and occupied, and whether any home sale exclusion or other basis adjustments apply. In many cases, simply rolling the money into a new house does not by itself determine whether capital gains tax applies. The final result can also depend on prior depreciation, improvements, and whether the property was a primary residence or a rental at any point. A focused session can map this against your actual situation in plain English.
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 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 converted my primary residence into a rental property two years ago, do I still legally qualify for the tax-free home sale exclusion if I sell it now?”
“I inherited a house and sold it almost immediately, do I owe capital gains taxes on the full sale price or just the stepped-up basis value?”
“I am selling my home at a massive loss due to a terribly bad real estate market, can I deduct the loss on the sale of a primary residence from my taxes?”
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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