When do I pay capital gains tax?

My sister and I sold our two condos in August of 2017. Each condo sold for $170,000. We bought a condo for $270,000 with 20 percent down. When do we pay capital gains tax?

Real Estate, Taxes
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Some good news for your. If you each lived in your own condos for 2 or the past 5 years you should owe any capital gains on the profit from your condo sales.  If you are single you get a $250,000 capital gain exclusion on your property.    The new purchases doesn't play into whether you owe capital gains or not on the previous properties.

April 2018
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April 2018