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Selling a rental home in California - how are capital gains taxed? Federal or State? Both?
I need help. I am selling a rental home I own in California (I currently live out of state). I don't meet any of the requirements to waive capital gains taxes on the sale. How does capital gains taxes work though, I've read everywhere that it's 15%, but is that just the federal govt's portion? Is there an additional capital gains tax that I'll owe the state of California? And if so approx what % is the state capital gains tax?
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May 31, 2019
4:51 PM