by sandiegodeals on January 19th, 2006

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Im selling a property that was owner occupied for 1 year. I will be making a $10K profit in San Diego. Will I need to pay a capital gains tax? Will I need to use a 1031 exchange?

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by Mephistopheles on September 29th, 2008
Only if the sale price is over $250,000 for an individual or $500,000 for a couple. You're also entitled to deduct the cost of any capital improvements made to the property during that time
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Im selling a property that was owner occupied for 1 year. I will be making a $10K profit in San Diego. Will I need to pay a capital gains tax? Will I need to use a 1031 exchange?

Answers. 1 helpful answer below.

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Im selling a property that was owner occupied for 1 year. I will be making a $10K profit in San Diego. Will I need to pay a capital gains tax? Will I need to use a 1031 exchange?

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