Do I have to pay taxes on the sale of a second home in a divorce settlement?

I am a 51 year old female. Neither of us has lived in the home for 13 years. Various family members, including our son, have lived in the home since then.

Asked on June 23, 2014 under Family Law, Maryland


John Smitten / Carey and Leisure

Answered 6 years ago | Contributor

Yes you have to pay capital gains taxes, even if you use a way to defer the tax like a like-kind exchange, the tax will eventually be due. 

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