Mortgage Balance | $[308 thousands_sep=”,”] |
Year Purchased | [309] |
Real Estate Commission | [312]% |
Sales Price | $[314 thousands_sep=”,”] |
Selling Expenses | [323 thousands_sep=”,”] |
Total Selling Expenses | [324 thousands_sep=”,”] |
Net Sales Proceeds | [325 thousands_sep=”,”] |
Cost Basis | $[315 thousands_sep=”,”] |
Cost of Improvements | $[316 thousands_sep=”,”] |
Depreciation | [327 thousands_sep=”,”] |
Net Adjusted Basis | [328 thousands_sep=”,”] |
Taxable Gain | [329 thousands_sep=”,”] |
Homeowner’s Exclusion | [330 thousands_sep=”,”] |
Total Subject to Tax | [331 thousands_sep=”,”] |
Federal Tax Calculation | Value |
Taxable Gain | [347 thousands_sep=”,”] |
Tax Rate [313] | [313 show=”value”] |
Federal Cap Gains Due | [344 thousands_sep=”,”] |
State Tax Calculation | Value |
Net Sales Proceeds | [325 thousands_sep=”,”] |
Net Adjusted Basis | [328 thousands_sep=”,”] |
Taxable Gain | [329 thousands_sep=”,”] |
Homeowners Exclusion | [330] |
Taxable Gain | [331] |
CA 13.3% | 0.133 |
State Tax Due | [350 thousands_sep=”,”] |
Net Investment Income Tax | Value |
Taxable Gain | [329 thousands_sep=”,”] |
200,000 OR 250,000 | [322 thousands_sep=”,”] |
Taxable Amount | [353 thousands_sep=”,”] |
Tax Rate | 0.038 |
Total | [355 thousands_sep=”,”] |
Debt over basis tax? | [363] |
Existing Mortgage minus Adj. Basis | [363] |
Possible additional tax | [364] |
Total Tax to Bill | [if 364 greater_than=”0″][341] [else] [359] [/if 364] |
Projected Tax Bill | Value |
Federal | [344] |
State | [350] |
NIIT | [355] |
Depreciation Recapture 25% | [358] |
Total Tax to Bill | [359 thousands_sep=”,”] |
% of Profit to Taxes | [360]% |