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If you’re selling a house will you have to pay capital gains tax on the profit? For the vast majority of people the answer is no. If you lived in the house you are selling for at least two of the past five years prior to the sale and the profit is less than $250,000 you will not be subject to capital gains taxes. If you are married and the same holds true, you will not be subject to capital gains tax on the first $500,000 of profit.
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Mike & Cindy Jones, Jacksonville Real Estate Agents, Realtors
904 874-0422
Florida Homes Realty