Do I Pay Income Taxes On My Sale?

Do I Pay Income Taxes On The Sale Of My House| Rapid Home Deals, we buy houses cash.
Sell your house fast for cash with Rapid Home Deals or structure the sale to minimize your taxes.
Good morning. It’s Carl Mullin once again, and we are answering some questions from sellers just like you.
All right, this week, the question is, if I sell my house, do I have to pay income taxes on the sale? The answer to that question in Florida is there is no income tax in Florida, so in Florida, as far as income is concerned, you do not. On the federal level, however, if you did not own the house for over a year, that’s 365 days plus one, then that is considered short term and you will pay based on based on your marginal tax rate. If you hold it for longer than a year, then that falls under long term capital gains. That gets a much more favorable tax treatment. All right? But, that’s our answer to the question today on, do I have to pay income taxes on the sale of my house? If you know somebody’s looking to sell their house, have them call Rapid Home Deals at 352-480-0955, or go to our website, Rapid Home Deals, we buy houses cash.
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