turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cwilbur2
New Member

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?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

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?

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-he...

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 - 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

 

 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question