• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Capital gains on personal residence sale

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.


Junior Member
What is the name of your state?California. I'm selling my personal residence that I've owned and lived in for 30 years for a smaller house. I know about the $250,000 per person capital gains tax exclusion, but I will realize more than $500,000 in gains.

Do I have a taxable situation on the capital gain over $500,000 even if I roll over all the proceeds into the new property?. If so, is it at a 15% rate. My real estate agent raised the issue but wasn't sure of the answer.


Senior Member
Yes, you will have capital gains to pay on any gain over $250,000. It doesn't matter whether you sink it into new property or not. Sorry.


Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential