Not accountants, sure, but others here

Posted By: Darva on 2007-06-15
In Reply to: We are not accountants - Patti

probably have had capital gains before and I was trying to get a ballpark figure on this so I can save some back.

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Selling house, how much taxes will I owe? - Darva
- If you have lived in the house for 2 of the past 5 years - sm - XXX
- capital gains = probably big bucks. - depending on selling price.
- We are not accountants - Patti
  - Not accountants, sure, but others here - Darva
    - We paid capital gains on a rental house sm - mlstoo
      - Wonder if they would take my first born? - Darva

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We are not accountants

I would suggest seeing an accountant or go onto IRS web page to see what you would need to pay on capital gains but believe it could be 20%.

Laid back. Cowboys or Accountants?