What is the law regarding capital gain taxes in California on a home sale?

Answer by  eyeguy (3760)

Any capital gains earned from any source are just as reportable as any other. The home sale is the easiest capital gain for the IRS to track.

Answer by  HEAJG (500)

Well in general you have to pay tax on the sale of any home in California. There is a certain amount contingent on the price for sale.

Answer by  Deb43 (579)

If you are able to sale a home in the state of California, consider the captial gain taxes and the laws that pertain to your situation.

Answer by  Ann89 (613)

Capital gain taxes in California are not payable on your principle home. Capital gain taxes are only payable on investment properties where you have crystallized a gain and will have to file a tax return.