2006-09-12 08:17:09 · 7 answers · asked by steevo 3 in Local Businesses ➔ United States ➔ Other - US Local Businesses
If you lived in it for 2 or more years, no there is no tax that you have to pay. If you did not live in it , Yes you will have to pay capital gain which is on the profit you made.
2006-09-12 08:31:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Do you think Uncle Sam gives out handouts? Of course you need to pay taxes. The better question would be how could I minimize the taxes.
2006-09-12 09:07:43 · answer #2 · answered by Zee 1 · 0⤊ 0⤋
Yes its called capital gain tax. What you can do to of set that is itemize your costs to defer some of your profits.
2006-09-12 08:23:29 · answer #3 · answered by PHILLYGUY 3 · 0⤊ 0⤋
Only on the profit at the end of the year.
2006-09-12 08:22:31 · answer #4 · answered by S.A.M. Gunner 7212 6 · 0⤊ 0⤋
Yes, capitol gains taxes.
2006-09-12 08:19:33 · answer #5 · answered by i have no idea 6 · 0⤊ 0⤋
Yeah, you're funny.
Thanks for the two points
2006-09-12 08:35:19 · answer #6 · answered by Trips 3 · 0⤊ 0⤋
oh yeah
2006-09-12 08:22:11 · answer #7 · answered by Crazymom 6 · 0⤊ 0⤋