do you have to pay capital gains on a first time home sale in the state of Michigan?
Answers (2)
As Real Estate professionals, we can not legally give financial or legal advice, and we must encourage you to seek professionals in those fields.
That said, capital gains do not neet to be paid if the gain is less then $250,000 ($500,000 if married), and/or the home was a primary residence for 2 years or more...
Web Reference: http://www.DoorToDreams.com
FIRST ANSWER
As Real Estate professionals, we can not legally give financial or legal advice, and we must encourage you to seek professionals in those fields.
That said, capital gains do not neet to be paid if the gain is less then $250,000 ($500,000 if married), and/or the home was a primary residence for 2 years or more...
Web Reference: http://www.DoorToDreams.com
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Answered Thu Jul 17 2008, 12:05 by Gary Smith in Yale
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