R****e
发帖数: 72 | 1 if you live there 2 years in the previous 5 years, profit up to 250K is
tax-free. If you used it for rental properties, you have to consider the
value after depreciation, and the profit is taxed as capital income pending
how long you owned it.
就自 | x*****t
发帖数: 2 | 2 hope this info with examples will help
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Sale of Residence - Real Estate Tax Tips
You may qualify to exclude from your income all or part of any gain from the
sale of your main home. Your main home is the one in which you live most of the
time.
Ownership and Use Tests
To claim the exclusion, you must meet the ownership and use tests. This means
that during the 5-year period ending on the date of the sale, you must have:
Owned the home for at least two years (the ownership test)
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