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Selling rental property in CA. Live in Oregon. Pay Fed 15%, CA 13.3% and depreciation recapture at 25%. Any other taxes to to be aware of?

 
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Selling rental property in CA. Live in Oregon. Pay Fed 15%, CA 13.3% and depreciation recapture at 25%. Any other taxes to to be aware of?

Depending on your income, it could be subject to the 3.8% Net Investment Income Tax.

 

Also, the 'extra' income could reduce (or eliminate) some credits or deductions that are on your tax return.

 

There are MANY variables, so if you need an accurate estimate, you would want to create a 'mock' tax return with all of the estimated information.

 

Carl
Level 15

Selling rental property in CA. Live in Oregon. Pay Fed 15%, CA 13.3% and depreciation recapture at 25%. Any other taxes to to be aware of?

Depreciation recapture is taxed at a "maximum" of 25%. it could be as low as 0%, depending on your overall AGI.

 

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