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 | % |