Home Selling in New Carlisle>Question Details

Stan Roberts, Home Buyer in Troy, OH

I moved out of my primary residence 10 months ago, and moved into our new home. I have an opportunity to sell this property on a land contract for 5

Asked by Stan Roberts, Troy, OH Fri May 28, 2010

years. Must I pay a capital gains tax on this property this tax season?

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Your tax professional can best answer your question as it relates to your specific situation.
0 votes Thank Flag Link Fri Jun 4, 2010
My advice would be to contact your tax accountant. Even though you moved out of your current residence 10 months ago, you might be eligible for the $6500 current owner tax credit if you lived in the home for five out of the last eight years.

Alvada Stanley
Coldwell Banker Heritage Realtors
0 votes Thank Flag Link Fri Jun 4, 2010
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