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Investors & landlords
This is the significant quote from the article:
"Long-term capital gains are derived from assets that are held for more than one year before they are disposed of. Long-term capital gains are taxed according to graduated thresholds for taxable income at 0%, 15%, or 20%. The tax rate on most taxpayers who report long-term capital gains is 15% or lower."
Based on what you said you will have $75K of taxable long term gain. Depending on the tax bracket that your in you will pay, in most cases up to 15%. But if you are in a lower tax bracket, it will reflect that tax.
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‎April 5, 2021
5:22 AM