856.426.1522 Ask Bob Activate Benefits
Ask Bob Selling Your Home What are the tax implications of selling my home?
Back to Selling Your Home

What are the tax implications of selling my home?

By Bob Millaway, South Jersey Community Expert & REALTOR®

If you have lived in your home for at least two of the last five years, you can exclude up to $250,000 of capital gains ($500,000 for married couples filing jointly) from your income. Gains above that are taxed as capital gains. Consult a tax professional for your specific situation.

Why It Matters

Understanding the tax rules helps you estimate your net proceeds from the sale and plan your next move accordingly.

Related Questions

What improvements add the most value before selling? Should I paint before selling my home? What is staging and do I need it? How do I prepare my home for showings? How do I price my home correctly?

Explore South Jersey with Bob

Living here is about more than the house. Bob's community guides help you find the right town, compare neighborhoods, and keep up with what's happening across Burlington County and South Jersey.

Best Places to Live Relocation Guide Compare Communities Regional Market Trends Community Directory Ask Bob Q&A Library
Want to know what it's really like to live here? Reach out to Bob.

Still Need Help?

Bob answers every question personally. Send your question directly to him.

Ask Bob Directly