Real Estate Capital Gains Tax Explained
A capital gains tax is a tax you pay on the profit you made from selling an asset. The tax paid covers the amount of profit - the capital gain - you made between the purchase price and sales price. In real estate, there are many factors that can decide if you have to pay capital gains tax and if so, how much.
Real Estate Capital Gains Tax Question
I got a great question about real estate capital gains taxes from a viewer named Brett. Brett currently lives in Colorado and he purchased a home back in 1997 for $160,000. It's his primary residence, he and his wife live in that home, and they're now under contract to sell the home for $555,000 since they’re moving from Colorado to the Huntsville area. They…
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