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Tax due?
twoandtwoisfour
Posts: 2 Newbie
in Cutting tax
Bought a house with my partner 10 years ago. We both live there and I don't own another property. Mortgage in his name only but trust document entitles me to first 50K equity upon sale. Do I pay tax on this?
0
Comments
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Hi There
NO as long as this is your main residence there is full capital gains tax exemption, no matter how you split the capital value. If this is your only property and you have lived there there should be no problems at all and no need to report sale to Revenue etc...
Hope this helps!
James0 -
Thanks James -- phew! - that put my mind at rest. xx0
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