How to Get a Gain Exclusion When You Sell Your Joint

If you sell a house for more than 12 months, that $400,000 gain will be called a long-term capital gain. The rates are either going to be 0, 15 or 20%, depending on the rest of your income. There may also be an extra 3.8% what's called net investment income tax. And it doesn't apply to just single family houses. It could also be condos, co-ops, mobile homes, even houseboats can be your primary residence.