Taxes On Sale Of Primary Residence 2024. California does not have a separate capital gains tax rate, unlike some jurisdictions. With the primary residence exemption, you must have lived in this property as your primary residence for, at minimum, two of the last five years.
Tom grill / getty images. With the primary residence exemption, you must have lived in this property as your primary residence for, at minimum, two of the last five years.
To Qualify For The Exclusion, You Must Have Used The Home You Sell As Your Principal Residence For At Least Two Of The Five Years Prior To The Sale.
Tom grill / getty images.
Principal Residence And Other Real Estate.
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You Must Report The Sale.
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Private Residence Relief You Do Not Pay Capital Gains Tax When You Sell (Or ‘Dispose Of’) Your Home If All Of The Following Apply:
You must have lived in the house as your primary residence for a total of at least 2 of the last 5 years, even if those 2 years were not continuous.
Report The Sale Or Exchange Of Your Main Home On Form 8949, Sale And Other Dispositions Of Capital Assets, If: