James W. asked
I sold a house in Indianapolis and want to know how to pay my federal and state taxes on the earnings. I lived in the house for 11 years and then moved to Carthage, allowing my niece to live in the house for 10 years. I sold the house for $145,000 and bought it for $71,000. How do I calculate and pay the taxes on this sale?
May 4th, 2023
Erin B. answered
Since you did not live in the house for the required two years out of the last five years before the...
May 4th, 2023
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