topic My 2022 personal income was $15,000. But I sold personal real estate with a gain of $235,000. What's my capital gains tax rate? in Deductions & credits

My 2022 personal income was $15,000. But I sold personal real estate with a gain of $235,000. What's my capital gains tax rate?

cwilbur2 — Tue, 10 Mar 2026 07:23:39 GMT

Re: My 2022 personal income was $15,000. But I sold personal real estate with a gain of $235,000. What's my capital gains tax rate?

DoninGA — Mon, 12 Dec 2022 15:58:03 GMT

Answered in your prior post on 12/10/2022 for the same subject here - https://ttlc.intuit.com/community/taxes/discussion/my-2022-income-was-only-15-000-but-i-sold-long-held-real-estate-with-a-gain-of-235-000-do-i-need-to/00/2800523

Re: My 2022 personal income was $15,000. But I sold personal real estate with a gain of $235,000. What's my capital gains tax rate?

NCperson — Mon, 12 Dec 2022 16:22:36 GMT

@cwilbur2 - well, I am going to provide a different answer.

When you state 'personal' real estate, is that your personal residence?

if you lived in that home at least 2 of the 5 years leading up to the sale date, you can exclude $250,000 of capital gains, so the tax would be zero if that were true

Otherwise, go with @TomD8 's response