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What is the Capital Gains Tax Rate for Home Sale?

How Much is Capital Gains on Home Sale?

How much is capital gains on a home sale?

The IRS has specific exclusions and rates for capital gains taxes on a home sale. Single taxpayers can exclude up to $250,000 of capital gains on real estate, whereas married and filing jointly taxpayers can exclude up to $500,000 in capital gains taxes on a house sale

For example, if you bought a house 20 years ago for $300,000 and sold it this year for $900,000, if you are married and filing jointly only $100,000 of the profits will be eligible for capital gains taxes.… Read the rest

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Capital Gains Tax and You – Do You Need to Pay?

capital gains taxDid you make a successful investment this year, or did you sell a property? If that’s the case, you may need to pay capital gains tax. This is a perplexing aspect of the tax code, and we are going to make it much clearer for you.

What is Capital Gains Tax?

Investors from small fish to huge firms are all eligible to pay capital gains tax. Practically all money gained through an investment is taxable, and you need to be aware of that.… Read the rest