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Get your taxes done using TurboTax
What are the tax rates for Fed and CA state with an estimated $300k Capital Gain (after the $500k write-off) on the sale of our primary residence. We are married, filing joint and have lived in our home for 18 plus years. I understand I would add the Capital Gains ($300k) on my yearly income of $145k bring the total to about $460k. I also believe the Fed tax rate for this amount is 35% and the CA State is 9.30%. Have I missed anything?
‎July 26, 2021
11:43 AM