I bought a house in 1999, lived in 1 year. Had to move for work. I want to sell now. Do I have to pay taxes?
464994
Have you really realized that much of a capital gain in a year? If so, you can always reinvest the proceeds before December 31 and defer any taxes, it does not have to be a 1031 excahnge.
366209
Your question is not completely clear. Do you think you pay a tax when you buy the house? Or are you asking about the yearly property tax that you must pay if you own property in a specific county.?
893135
This is a great idea.  Obviously you know that even though you need to include the disbursement as income, you can avoid the 10% penalty if you use the proceeds (up to $10,000 over your lifetime) for a "1st time home purchase".  You can not have any interest in a home for the 24 months prior to the purchase of the home to get the "1st time" status.\n\nThe year you need to include the income is the year in which the money is disbursed, not necessarily the year in which you settle on the home.  Please pay within the 120 day window.  I can't see anywhere where it allows you to take the money out AFTER you pay for the home, so be sure to take it out earlier.
455035
You will have to wait until next year to file that income since it was recieved in 2006.  What you can do is pay estimated taxes on the amount you just recieved if you haven't already been taxed on it.
878425
You only pay capital gains on PROFIT, not gross proceeds. If you come out at 0, you dont have to worry about capital gains. \n\nI bought house for $152, sold it at $167, and only paid capital gains on about $5K becuase that was all the profit I made on the deal. \n\nAs long as you keep your paperwork to show that the cash you're getting back is your down payment and not profit (hang onto your original closing statement) then the 1031 exchange is a moot point.
1008273
You can do a like-kind exchange, where you trade the property for another, and defer your gain until you sell the new property. The rules are complicated--you should talk to a CPA.
872955
You may pay several different taxes depending on where you live.\n\nSome places have a transfer tax when you buy the house, sort of like a sales tax.\n\nMost cities and counties have real estate taxes based on the value of your home. Sometimes there is a school tax, too, but sometimes they're combined.\n\nThese taxes are all deductible on your federal income tax if you itemize.\n\nSome places have a sewer tax that is based on water use so it may or may not be deductible.\n\nYour best source for this information would be a Realtor and a tax adviser.
139122
There isn't specifically a "tax break" for a first time homeowner.  You do get to deduct your mortgage interest.  As far as moving, if you pass the checklist of questions, you should be able to deduct the specific items that the IRS will allow, i.e. mileage, and moving expenses if it was for your job.
131455
Under IRS 1031 rules you may sell income property and reinvest entire amount in income property and NOT be subject to any capital gains tax. This does not apply if your are selling your residence (where you live), however in this example  single persons gets up to a $250,000 exemption before taxes apply and a married couple gets $500,000.  There are many IRS 1031 rules that must be strictly complied with to avoid tax on an investment sale and purchase .  Look for a 1031 Qualified Intermediary in your local phone book or on the Web.
4919
The have a few options... if the numbers work out then go for it. I believe,  that if your property was aquired from using a 1031 exchange, then you will have to hold the property for 60 months and live in this property for 24 months out of those 60 months to qualify for the tax exemption of gains up to 250k/ 500k if you are married and file joint returns. Depending on your need for the capital, liquidity, and when; would be the questions I would ask \nyourself. If it was me, I would look in to more real estate, maybe a 1031 exchange. What other investment can you not only cash flow from, but is a leveraged asset. Hope this helps.
482743
No, if it is your principal residence, and you sell within 2 years.  However, if this is an investment property, and you are using that money to buy another investment property.  The transaction could be set up as Sec. 1031 exchange, which will result in a tax deferral.
895813
If you lived in the property for ALL of 2002 and 2003, but not after that, then you'd have to sell by January 1, 2007 to qualify, since the specified time is two out of the five years prior to the date of sale, and 5 years prior to 1/1/07 is 1/1/02, the start of your two year period of residence.  So you're running out of time in about 6 weeks.  If you only lived there part of 2002 and/or 2003 but not after that, then you don't have the full two years residence so don't qualify.\n\nAs someone else said, the fact that you had converted it to rental property after that does complicate matters, and you couldn't exclude all of the gain if there is depreciation that you claimed or could have claimed.
1032070
Depends, if you use your profits to buy another house within, I believe, 2 years, no.  Check the IRS website for time limit.\n\nIf you don't purchase another house, then yes.
268081
u just pay there town for there taxes for there house. check with ur tranasstion lawyer
990612
Was that house ever your principal residence in the last 5 years, for 2 years or more?  You get a huge tax savings if it was.  You really need to talk to either a good real estate person or an attorney/CPA and find out the tax consequences.  If it was your principal residence, you do not pay capital gains on the profit you make on the house.  If it wasn't your principal residence for 2 of the last 5 years, you do have to pay profit on the sale.  It can be complicated, you need advice from someone in your area, not a bunch of strangers off the internet.  Good luck!
396446
Yes.  So long as you had taxable income you still need to file.
754560
You need to pay taxes in the state that you work. Since you work 90% in NY, you would pay NY taxes.  My company is in California, but I work in another state and I pay that states taxes because that is where I am BASED out of, not California.  Your employer should be withholding NY taxes from your check if you home is considered your base office.