Selling a Home — Capital Gains
“I sold the house I lived in for a year; what taxes will I owe?”
Selling a home can create different tax results depending on how long the property was owned and used as a main residence, how much gain was realized, and whether any part of the home was used for rental or business purposes. In many cases, the main questions are whether the sale produced a taxable gain, whether any home-sale exclusion may apply, and how prior improvements, selling costs, or depreciation affect the calculation. State tax treatment can also vary, especially if the home was in a different state from the seller’s current residence. A targeted review with a CPA can turn the uncertainty into a clear next step.
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 a house I lived in for a year; how much capital gains tax do 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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