When selling your house, how do you figure the amount of tax you will owe?

Tips and Deals Forums Buying Your Home When selling your house, how do you figure the amount of tax you will owe?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 11 months ago.

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    Anonymous

    For example: I purchase a house for $100,000 and sell it for $200,000 six months later. Do I subtract improvements, realtor fees, etc. from the sale price and THEN figure taxes? If this gain is personal income, can you still subtract improvements, etc. or do you need to be an LLC or some other type of entity? Thanks.

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