MarilynG1
Expert Alumni

Investors & landlords

Long Term Capital Gains are calculated not just by the amount of the gain, but also by the amount of Taxable Income on your return. 

 

Here's more detailed info on How Capital Gains are Taxed.

 

Be sure you included the amount of your Sales Costs.

 

Original  Cost - Depreciation Taken = Cost Basis 

Total Proceeds - Cost Basis + Sales  Costs = Gain

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"