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The long-term capital gains tax rates are 15 percent, 20 percent and 28 percent (for certain special asset types, like small business stock collectibles), depending on your income. Real estate ...
The IRS allows married couples to exclude up to $500,000 in home sale profits from capital gains taxes. ... Single taxpayers can exempt the first $250,000 of capital gains from the sale of their ...
The long-term capital gains tax rate varies between 0%, 15% and 20%. There are a few higher rates for particular items, but they don’t apply to a home sale. In contrast, short-term capital gains ...
20%***. * This rate was reduced one-half percentage point for 2001 and one-half percentage point for 2002 and beyond. ** There was a two percentage point reduction for capital gains from certain assets held for more than five years, resulting in 8% and 18% rates. *** The gain may also be subject to the 3.8% Medicare tax.
Specifically, single sellers who make more than $250,000 on a home sale may trigger the capital gains tax; that amount jumps up to $500,000 for married sellers filing jointly. Other factors come ...
Figuring capital gains tax that may be owed on a home sale depends on several factors. One is whether you meet the criteria for excluding $250,000 for single filers and $500,000 for couples filing ...
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