Do I have to pay income tax on the sale of my primary residence?

Do I have to pay income tax on the sale of my primary residence? Do I have to pay income tax on the sale of my primary residence?

1 Expert Answer

Don Scott

FCPA, FCA, Partner/Director of Tax Services,  Welch LLP

As of right now, the simple answer is no. Due to the COVID-19 Pandemic, there is the possibility that this could change in the future. My thinking here is not the complete elimination of the tax free gain, but perhaps putting a cap on the tax free portion.

Answers by Welch LLP

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