Capital gains on the sale of a second home is required to be paid. When talking about a primary residence, that may not be the case. If you have owned your primary residence for more than 2 years, when you sell the house, you won't owe capital gains taxes on it. On a second home, you will have to pay anywhere from 5% to 28% on the house. Normally, people pay about 15% after they sell the
. property. For further information, visit http://www.mortgagenewsdaily.com/wiki/Capital_Gains_Second_Home.asp.
