Home sell chesthey profit meedha tax kattaalaa ?

[Pichekkistha]

Even if it is primary home ? 

[Swatkat]

Yes

[Mr Mirchi]

db lo evarikanna gift ga ivvu..appudu tax katte pani vundakapovachu

[Pichekkistha]

I know if we buy another one in the same year avasaram ledhu... 

[yemdoing]

5 minutes ago, Pichekkistha said:

Even if it is primary home ? 

Yes 

[yemdoing]

Just now, Pichekkistha said:

I know if we buy another one in the same year avasaram ledhu... 

vuu this is news to me 

[Deadp0ol2]

Yes

[CherryGaru]

If the profit is above $250,000 if you are single and $500,000 if you are married. Below that, no taxes to pay..

This is only for primary home..

[HugoStrange]

8 minutes ago, Pichekkistha said:

Even if it is primary home ? 

if u lived in the home for 2 years in the last 5 years single 200k profit and married 500k profit ki tax kattakkarledu. Also remember that these are capital gains taxes which are different from income tax, so 20% for everything about the limits.

[LungiLingaraju]

You can buy another house of any amount and defer that extra amount life long … let’s say you made 400k profit .. buy a house for 120k and you can defer 180k for indefinite future date … loop holes unnay ba … GC unte company open chesi invest chey company account lo, this I’m not 100% sure .. manchi attorney ni pattuko 

[csrcsr]

46 minutes ago, Pichekkistha said:

Even if it is primary home ? 

If you stayed for more than 2 years you can exclude upto 500k profit plus real estate agent free, any home repair etc etc can be excluded too

[TopLechipoddi]

5 hours ago, Pichekkistha said:

Even if it is primary home ? 

Yes, if you sell before 24 months after closing date

[dalapathi]

@Vaampire

[Vaampire]

6 hours ago, CherryGaru said:

If the profit is above $250,000 if you are single and $500,000 if you are married. Below that, no taxes to pay..

This is only for primary home..

Yupe. Primary home antey last 5 yrs lo min 2 yrs aa intlo undi undali