Prepared For:
test test
devod0485@gmail.com
9874563210
little india, Alabama

Input Summary:
Sales Price:	$1,100,000.00
Real Estate Commission (%):	5%
Mortgage Balance:	$460,000.00
Year Purchased:	2020
Property State:	Choose State

Sales Summary

Sales Price:	$1,100,000.00
Real Estate Commission:	$55,000.00
Other Expenses :	$11,000.00
Total Expenses:	$66,000.00
Net Sales Proceeds:	$1,034,000.00

Cost basis:	$478,000.00
Cost Of Improvements:	$225,000.00
Depreciation:	$0.00
Net Adjusted Basis:	$703,000.00
Taxable Gain:	$331,000.00
Homeowner’s Exclusion:	$250,000.00
Total Subject to Tax:	$81,000.00

Depreciation

Residential:
Cost Basis:	$
Depreciable Amt:	$
Annual Depreciation:	$
Year of Purchase:
Years Owned:
Taken to Date:	$

Commercial:
Cost Basis:	$
Depreciable Amt:	$
Annual Depreciation:	$
Year of Purchase:
Years Owned:
Taken to Date:	$

Tax Calculation

Federal:
Net Sales Proceeds:	$1,034,000.00
Net Adjusted Basis:	$703,000.00
Taxable Gain:	$81,000.00
Federal Tax Rate:	20%
Federal Capital Gains Due:	$16,200.00

State:
Net Sales Proceeds:	$1,034,000.00
Net Adjusted Basis:	$703,000.00
Taxable Gain:	$81,000.00
Home Owner’s Exclusion:	$250,000.00
ST Tax Rate @ %:	$Choose State
State Tax Due:	$4,050.00

Projected Tax Bill

Federal:	$16,200.00
State:	$4,050.00
NIIT:	$0.00
Depr Recapture (25%):	$0.00
Debt Over Basis (39.6%):	$0



Total Taxes Owed :	$20,250.00
% Profit to Tax :	25.00%

* We are not tax advisors. Review this information with your tax counsel. *

We specialize in helping clients defer or eliminate capital gain taxes. Whether you’re selling investment real estate, a primary residence, a business, cryptocurrency, boats, airplanes, or anything else, our strategies can save you tens or even hundreds of thousands of dollars.

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