What are the capital gain rates for selling a home in CA that has over $500k in long term gains? First $500k is tax free, but how is the remaining profit of $1.5m taxed?

Have owned & lived in this home for 20+ years.

posted

Connect with an expert

3 Replies

What are the capital gain rates for selling a home in CA that has over $500k in long term gains? First $500k is tax free, but how is the remaining profit of $1.5m taxed?

depending on your taxable incoem, a maximum federal tax of 20%, but the gain could push you into AMT.

What are the capital gain rates for selling a home in CA that has over $500k in long term gains? First $500k is tax free, but how is the remaining profit of $1.5m taxed?

plus the 3.8% Net Investment Income tax.

What are the capital gain rates for selling a home in CA that has over $500k in long term gains? First $500k is tax free, but how is the remaining profit of $1.5m taxed?

https://www.fool.com/taxes/2017/12/22/your-guide-to-capital-gains-taxes-in-2018.aspx

https://www.tax-brackets.org/californiataxtable

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post