If I sold my second home which is a lake house...Will I have to pay Capitol Gain to the IRS?.......?

Question

Or how can I gat out of this....any hints or advice?

Answer 1

Yes you'll have to pay tax, if you have a gain.

To get out of paying taxes on it you could ;-}
(1) sell it at a loss, or
(2) keep it until you die, and let your estate and heirs worry about the taxes.

Answer 2

Yes, you will have to pay Capital Gains taxes.

Look at it this way: There are worse things in life than having to pay taxes on a large chunk of money.