Legal Question in Real Estate Law in Wisconsin

If you are talking about capitol gains taxes, there usually are none owed if you are selling your primary residence, if your profit on the sale is less than $250,000 (or double that amount if you are married couple selling your home). You need to have owned the home and resided there for certain minimum time periods (usually two years) to qualify, so follow up with your accountant or lawyer on the details. If you are talking about commercial properties or higher amounts of profit, there are provisions to avoid long term capitol gains by reinvesting in a replacement residence, but I would need more details to tell you what the deadline is to reinvest.

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