Capital gains question

My parents and I bought a house 7 years ago. Long story short all 3 of us are on the deed, but only they are on the mortgage. I lived in the house, they did not. We bought for $150K, refinanced with a $180K loan, and now it’s worth $340K. If I sell, do we have to pay capital gains since I was living there the whole time?

submitted by /u/rtxj89
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My parents and I bought a house 7 years ago. Long story short all 3 of us are on the deed, but only they are on the mortgage. I lived in the house, they did not. We bought for $150K, refinanced with a $180K loan, and now it’s worth $340K. If I sell, do we have to pay capital gains since I was living there the whole time? submitted by /u/rtxj89 [link] [comments]

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