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• 1. R

     taxes on sold house in Maryland

     Also, if I don’t have to pay taxes bc there was not a capitol gain of $250,000 or more, do I have to buy a new house within 2 years after the sale of my house that I sold?Can that money be used for anything I want or does it strictly have to be used to buy a new house?

     • remote teacher
     • Post #7
     • Jan 4, 2021
     • Forum: Other Real Estate Law Questions
  2. R

     taxes on sold house in Maryland

     Also, if I don’t have to pay taxes bc there was not a capitol gain of $250,000 or more, do I have to buy a new house within 2 years after the sale of my house that I sold?Can that money be used for anything I want or does it strictly have to be used to buy a new house?

     • remote teacher
     • Post #6
     • Jan 4, 2021
     • Forum: Other Real Estate Law Questions
  3. R

     taxes on sold house in Maryland

     I live in Maryland. I owned a house for 20 years, it was sold in August, 2020. I have been told by some, taxes must be paid because the sale was income. However. others have told me that I do not have to pay taxes as I lived in the house for 20 years. And still, others are telling me, I...

     • remote teacher
     • Thread
     • Jan 3, 2021
     • Replies: 7
     • Forum: Other Real Estate Law Questions