Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply presented by

User Stats

8
Posts
0
Votes
Tanner Christensen
  • Investor
  • American Fork, UT
0
Votes |
8
Posts

Capital Gains Tax Utah?

Tanner Christensen
  • Investor
  • American Fork, UT
Posted

I am wondering if anyone knows how capital gains work state by state. Does Utah follow the same capital gains exemptions status of living in a primary residence, married for two years or more - with a gain of less than $500,000. ? 

Trying to find what tax hit I would take from the state of Utah if I sell my house and make a gain? I am going to purchase other properties with the gain. I know a 1031 exchange will not work since this has not been an investment property. 

Thanks 

Most Popular Reply

User Stats

2,512
Posts
2,461
Votes
Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
2,461
Votes |
2,512
Posts
Bob Okenwa
  • Real Estate Agent/Investor
  • Peoria, AZ
Replied

@Tanner Christensen

It is my understanding that the capital gains exclusion on the sale of a primary residence is a federal tax break and not a state-level one. I am no CPA so you can check with one to confirm this, but as far as state taxes go, you'd probably have to meet with someone in your area familiar with your state's tax code to get a better understanding of how this would affect you.

Loading replies...