What is the current rate of paying capital gains on an investment home?
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What is the current rate of paying capital gains on an investment home? I may be selling a rental and need to know how much I will pay in taxes on profit.
Answer:
The first £9,600 of gains in a year are tax free, then it's a flat rate of 18% on the rest..
KTOWNAND... at Yahoo! Answers Mark as irrelevant Undo
Other solutions
Has there been any serious discussion or analysis of "swapping" capital gains tax rates (by raising them) and income tax rates (by lowering them)? In all of the tax policy rhetoric - the Buffett Rule, Mitt Romney's 13% average tax rate paid...
Answer:
The size of the base might also be an issue. If you raised the capital gains tax to 25%, an offsetting...
AgentRocket at Ask.Metafilter.Com Mark as irrelevant Undo
-O-uknow at Answerbag.com Mark as irrelevant Undo
I built a spec house which has been on the market since August. I was informed that in order to receive the long term capital gains rate, the holding period started the moment I put the house up for sale (not when I acquired the land to build it on)...
Answer:
The relative will be entitled to half of thr profit and have to pay tax on that income. SO unless you...
Pascal the Gambler at Yahoo! Answers Mark as irrelevant Undo
I am selling a home. Long term capital gains tax is currently 15%. I anticipate that in 2012 the capital gains tax rate will be raised to 20% plus about 4% for the health care law, making it 24%. The house as yet is unsold. Now while it is yet unsold...
Answer:
The term acceleration applies to depreciation. Google "accelerated depreciation" for more...
falsi fiable at Yahoo! Answers Mark as irrelevant Undo
Is it true that if you use the capital from the sale of an investment property and put that towards another property that you will not be taxed on the capital gains via tax? How does this work exactly? And can you use the capital gains toward any type...
Answer:
The 1031 (refers to Internal Revenue Code Section 1031 which explains the exchange) "like-kind...
unhappy at Yahoo! Answers Mark as irrelevant Undo
I would be very grateful if someone helped clear this up for me — when exactly does the holding period begin to qualify for long term capital gains treatment on a real estate investment home? A friend of mine asked his tax preparer this question...
Answer:
"How can they VERIFY my intentions? For all they would know I am selling my primary home if I choose...
Jackson at Yahoo! Answers Mark as irrelevant Undo
If one's employed in Canada (Canadian Citizen) but invests in U.S. securities, such as stocks, how are the gains (Capital and Dividend) treated for tax purposes? Of course, the funds are traded in U.S. Dollars and the gains are also in U.S. Dollars;...
Answer:
Once again, Allan is wrong. While there is US witholding on dividends paid, there is none on capital...
Sam H at Yahoo! Answers Mark as irrelevant Undo
I would be very grateful if someone helped clear this up for me -- when exactly does the holding period begin to qualify for long term capital gains treatment on a real estate investment home? A friend of mine asked his tax preparer this question and...
Answer:
Every sentence of you post is twisted around. You don't get capital gains rates on inventory. If this...
Jackson at Yahoo! Answers Mark as irrelevant Undo
I recently paid off my mortgage on my primary residence and now own my property valued at $135,000. Now I am looking to purchase a second home (Freddie Mac foreclosure with asking price of $125,000) for my Mom to live in to help her with her financial...
Answer:
you probably won't be able to borrow more than 80% of YOUR home's value are they offering you a FIXED...
plmmr16 at Yahoo! Answers Mark as irrelevant Undo
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