Selling a Home — Capital Gains
“What tax should I expect from selling my second house?”
Selling a second house often raises capital gains questions, but the tax outcome typically depends on several moving parts, including your purchase price, selling price, closing costs, and any improvements that may affect your basis. Whether the property was used as a second home, a rental, or partly personal and partly business can also change how the gain is treated. In many cases, the holding period and your overall income picture matter too, since they can affect how the gain is reported and taxed. State tax treatment may also vary, so both federal and state angles are often relevant. 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 is the tax on my second home sale calculated?”
“How much capital gains tax applies to my second home sale?”
“How do I figure out the tax I owe on a second home sale?”
“How much will the IRS tax me on a 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 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?”
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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