selling my summer home here in NY, bought the house 18 years ago for 68k did major work on the house and now selling for 300k do I have to pay capital gains? could use some help. Howard G
1 Answer from Attorneys
Under the Internal Revenue Code and Regulations there are a lot of different rules which apply to this situation and there's no absolute straight-forward answer. If you want to pay me to get the answer for you, we can discuss the situation more specifically via skype.