You should check with your tax adviser, but in general. If the property has been your primary residence for 2 of the past 5 years, then the IRS say's that if your gains are below $250K for a single individual, or below $500K for a married individual, then no taxes would be due.. you would be exempt.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
You need to ask your Accountant or whoever does your taxes.
This is a question for your tax professional, but if you have lived in the loan for at least two of the past five years, there is no capital gains due for most people. There is a certain lifetime exemption depending on single or married, and if you've sold primary homes in the past. Again, consult a tax professional, and most people here are mortgage professionals.
As others have said it is a tax question that has nothing to do with whether it was a FHA loan.
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