- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
"Lastly there is the 3.33% of the sales price = $7,825 withheld by the title company for the FTB in California.
That's not "the tax" on your gain that's the withholding, a prepayment of income tax. California generally conforms to federal tax law in this area. The state of California puts their own tax on all capital gains, and recapture that it’s residents earn. You can roughly use a 10% rate for estimation purposes.
May 13, 2020
6:25 AM