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R
Royw149
February 22, 2025
Question

Invest Property long term capital gains

  • February 22, 2025
  • 1 reply
  • 0 views

Thinking of selling residential investment real estate. What is the capital gains tax rate for someone who has less than $40K in taxable income?  Line 15 on 1040 shows $0.

Gain will be over $250k.

    1 reply

    SusanY1
    SusanY1
    March 5, 2025

    For a single filer with $250,000 in gain and $40,000 in other taxable income the long term capital gains rate is 15%.  The income from the capital gain is part of the overall taxable income that determines the rate.  

     

    You can learn more about capital gains tax rates HERE.

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