Taxes on Selling a House Florida
If you're thinking about selling your home in Florida, one of the first questions that might come to mind is how taxes will affect your sale. Understanding the taxes on selling a house Florida is essential for avoiding surprises and maximizing the amount you keep from your transaction.
At Trusty House Buyers, we make the process easier. We specialize in buying homes in as-is condition, including properties damaged by fire, flood, storms, or neglect. That means:
No repairs
No cleaning
No inspections
No waiting
Whether you're selling due to financial strain, relocation, or inheritance, taxes can make a big difference in your final payout. In this guide, we’ll break down everything you need to know about taxes on selling a house Florida, and how we can help you simplify the process.
How Trusty House Buyers Can Help
We understand that selling a house is not just about finding a buyer - it’s about navigating the financial realities that come with the sale. At Trusty House Buyers, we offer a streamlined solution that helps you move forward without the headaches.
When you work with us, you benefit from:
No commissions or fees
No hidden closing costs
A fair cash offer within 24 hours
The option to close in as little as 7 days
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Do You Have to Pay Taxes When You Sell a House in Florida?
The short answer: yes, in many cases. However, not all taxes apply to every seller, and some homeowners may qualify for exemptions or reductions. The most common types of taxes on selling a house Florida include:
Federal Capital Gains Tax
Florida Documentary Stamp Tax
Property Taxes
Depreciation Recapture (for investment properties)
Florida doesn’t have a state income tax, which is great news for homeowners, but the federal government still expects its share if your sale qualifies as a capital gain.
What Is Capital Gains Tax?
If you sell your home for more than you paid for it, the profit is considered a capital gain. The capital gains tax is what you may owe on that profit.
Here’s how it generally works:
If you owned and lived in the house for at least two out of the last five years, you may exclude up to $250,000 of the gain from taxes ($500,000 for married couples).
If you don’t meet the residency requirement or exceed the exclusion amount, you could owe federal taxes on the gain.
Understanding how capital gains affect taxes on selling a house Florida is key to accurate planning. Always consult a tax professional to calculate your individual liability.
What Is the Florida Documentary Stamp Tax?
Florida charges a documentary stamp tax on the transfer of real estate, which is typically paid by the seller. This tax is calculated based on the sales price of the property.
The rate is $0.70 per $100 of the home’s sale price (some counties may have additional fees).
For a $300,000 home, this equals $2,100 in doc stamp tax.
When planning for taxes on selling a house Florida, this cost can sneak up on you if you're not prepared. Selling to a direct buyer like Trusty House Buyers can simplify these calculations, as we often cover closing costs, including transfer taxes.
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Selling Investment or Rental Property? Consider Depreciation Recapture
If you're selling a rental property, you may owe an additional tax called depreciation recapture. This occurs when the IRS "recaptures" the depreciation you claimed while renting the property, and taxes it as ordinary income.
This can significantly increase your tax bill, especially if you've owned the property for many years. It's one more reason to evaluate all factors tied to taxes on selling a house Florida when planning a sale.
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Avoid Surprises and Sell Smart
Understanding taxes on selling a house Florida can save you thousands of dollars. From federal capital gains to Florida-specific transfer taxes, being aware of your responsibilities ensures there are no surprises at closing.
When you sell your home through traditional means, these costs can quickly add up:
Realtor commissions
Home repairs and inspections
Staging and cleaning fees
Delays that lead to additional holding costs
Skip all of that by working directly with a local, trustworthy buyer. We eliminate the guesswork, giving you clarity and confidence from day one.