Aaron and Melissa are looking to sell their house for $700,000. They purchased the house seven...
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Aaron and Melissa are looking to sell their house for $700,000. They purchased the house seven years ago for $480,000 and didn't have any adjustments to factor in. If Aaron and Melissa sell their house for $700,000, how much will they have to pay in capital gains? $700,000. Married couples are required to pay capital gains on the final sales price. $220,000. All sellers have to pay capital gains on the sales price minus the price they originally paid. $0. The $500,000 capital gains exclusion will allow them to write off any profits earned on the property. $0. Capital gains is only paid on commercial properties. Aaron and Melissa are looking to sell their house for $700,000. They purchased the house seven years ago for $480,000 and didn't have any adjustments to factor in. If Aaron and Melissa sell their house for $700,000, how much will they have to pay in capital gains? $700,000. Married couples are required to pay capital gains on the final sales price. $220,000. All sellers have to pay capital gains on the sales price minus the price they originally paid. $0. The $500,000 capital gains exclusion will allow them to write off any profits earned on the property. $0. Capital gains is only paid on commercial properties.
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