Starting Point for the Calculation
First, calculate the capital gain by subtracting the verifiable acquisition price and deductible expenses from the actual sale price. Acquisition tax, brokerage fees, legal fees, and capital expenditures each have eligibility requirements, so keep your contracts, receipts, and transfer records.
One Household with One Home Is Not Automatically Tax-Exempt
You must consider the number of homes and the scope of the household, the holding period, residence requirements based on whether the property was in a designated adjustment area when acquired, and exemptions for temporarily owning two homes. For a high-value home whose actual transaction price exceeded 1.2 billion won at the time of sale, calculate the capital gain attributable to the amount exceeding 1.2 billion won even if the tax-exemption requirements are met.
The Long-Term Holding Deduction Varies by Housing Type
The applicable tables differ for general real estate and high-value homes owned by one household with one home. The maximum 80% deduction for one household with one home results from separately meeting the holding-period and residence-period requirements; it does not apply automatically simply because you have held the home for 10 years.
Deductions to Check Before Applying the Tax Rate
After applying the basic capital gains deduction for the relevant tax year to the capital gains amount, calculate the taxable base. If you sold multiple assets in the same year or there are issues involving short-term ownership or higher rates for multiple-home owners, review the overall filing situation rather than calculating each transaction separately.
Estimated Filing Deadline
For real estate, the estimated return and payment are generally due within 2 months from the end of the month in which the sale took place. If you had multiple sales in the same year, you may need to file an annual tax return the following year. Check the National Tax Service filing deadline table that applies to the actual sale date and type of asset.
When You Should Calculate Before Signing the Contract
The assessment becomes more complicated when temporarily owning two homes, inherited or gifted homes, redevelopment occupancy rights or presale rights, and co-ownership are involved. Before transferring ownership or setting the sale date, it is safer to show the contract and acquisition history to a tax professional for review.