What Taxes Do You Pay When You Sell Your House – If anything you own goes up in value and you sell it, you make a profit. That gain is called capital gain and the tax you have to pay on that gain is capital gains tax. This tax is not just for wealthy investors. Capital gains tax can apply to anything of value, even if you don’t see it as an investment — jewelry, a car, bitcoin, stocks, furniture on Facebook Marketplace—may fall under the tax.
Tax may apply when you sell something at a profit. This could be … Read the rest