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    tonyfoster's Avatar
    tonyfoster Posts: 1, Reputation: 1
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    #1

    Nov 19, 2010, 07:52 AM
    Income taxes
    I own a home in ga but live in tx... will I owe any income tax in ga if home is sold?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Nov 19, 2010, 08:17 AM
    Tony:

    Probably not, because it is likely, given the current housing market, that you will make NO profit in such a sale.

    However, if you do realize a profit on the sale of a home that is NOT your primary home under current IRS rules, then, yes, the capital gain would be subject to Georgia income tax.
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