majortom300 t1_j6l62kv wrote on January 31, 2023 at 2:34 AM

Isn't there a thing where you don't have to pay taxes if you roll your house sale into the purchase of another house?

StaggeringMediocrity t1_j6m5gv5 wrote on January 31, 2023 at 8:30 AM

What you're thinking of is a 1031 "like-kind exchange" which only applies to investment properties. Investment properties are taxed different from your primary residence or even a second home.

For a qualifying primary residence - where you lived there for 2 of the last 5 years - you automatically get a $250,000 capital gains exclusion, or $500,000 if married.

Im_A_Director t1_j6losdd wrote on January 31, 2023 at 5:09 AM

If the home has been owned for more than 2 years, there is no capital gains tax on the first $250,000 for single house hold owners and $500,000 for married owners.