We are not tax advisors, this information is for you to review with your tax counsel
Mortgage Balance | $1,000,000 |
Year Purchased | 1915 |
Real Estate Commission | 5.00% |
Sales Price | $4,000,000 |
Selling Expenses | |
Total Selling Expenses | |
Net Sales Proceeds | $ |
Cost Basis | $250,000 |
Cost of Improvements | $100,000 |
Depreciation | |
Net Adjusted Basis | |
Taxable Gain | |
Homeowner’s Exclusion | |
Total Subject to Tax |
Federal Tax Calculation | Value |
Taxable Gain | |
Tax Rate 20% | 0.20 |
Federal Cap Gains Due |
State Tax Calculation | Value |
Net Sales Proceeds | |
Net Adjusted Basis | |
Taxable Gain | |
Homeowners Exclusion | |
Taxable Gain | |
CA 13.3% | 0.133 |
State Tax Due |
Net Investment Income Tax | Value |
Taxable Gain | |
200,000 OR 250,000 | |
Taxable Amount | |
Tax Rate | 0.038 |
Total |
Debt over basis tax? | |
Existing Mortgage minus Adj. Basis | |
Possible additional tax | |
Total Tax to Bill |
Projected Tax Bill | Value |
Federal | |
State | |
NIIT | |
Depreciation Recapture 25% | |
Total Tax to Bill | |
% of Profit to Taxes | % |