Moved and sold 2 homes in a year for jobs Hi, I was hoping to get some opinions on what we might owe in capital gains taxes.
In September 2015 we moved from Indiana to Oregon for a new job and sold our house that we lived in for 3 years. We made approx. $30k on that house selling.
We closed on a house in Oregon in November 2016. I ended up taking a new job in California and just recently relocated to California and will be selling our house in Oregon now. We are again in relocation with a new company down to California and they are picking up our closing costs on both sides of the transaction once we find a house here. Even though we were only in that house 6 months it is looking like we will make $45k on that house.
We are needing all the equity we make on this house sale to be able to afford a down payment on a house in California. We have heard that if we owe something that it might be taken out immediately during escrow. What do you think we will end up owing (if we aren't able to take an exclusion) and is there any way to pay it next year come tax time vs. have it taken out at escrow? Thanks in advance. |