Legal Question in Real Estate Law in New York

I am selling my home in New York (sold in April this year) and have a Gain of 462,000. I have lived in that house for the past 60 years before moving to Tennessee last year. Do I have to pay taxes on the full amount or am I eligible for an exemption? I see exemptions for 250,000 single and 500,000 for married (which I am).

Asked on 4/19/17, 4:23 pm

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

It seems to me you found the answer yourself.

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Answered on 4/20/17, 9:14 am

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