What % of Capital Gains tax will I have to pay?
927329
Taxes due would depend on what you sell it for.  The privacy fence and storage shed would be added to the cost of the house.  The cosmetic repairs would not be.  So you have $127K into it.  The difference between that and what you sell it for (net - you get to subtract items like realtor's commissions that you pay) is your gain.  \n\nFebruary isn't far off, so hanging in there until then makes sense.  Staying a year would make your gain long-term.  You're probably in the 15% bracket, which would mean your long term capital gain would have 5% tax applied.  So if, for example, you sold your home for $150K and paid real estate commission of $9000, you'd have a gain of $150K - $127K - $9K, or $14,000, and your tax on that would probably be $700, which isn't all that bad if you really hate it there.\n\nYou'd have to stay two full years to avoid capital gains taxes at all, and doesn't sound like you want to do that.  There is a little bit of an out here - if you move to a different area and can legitimately claim that the move was due to taking a new job, you can exclude some of the gain - basically, if you lived there a full year, you could exclude half of the gain, and just pay tax on the other half.  But if you're retired, you don't have that option.\n\nWhat you still owe, and what it is or was appraised at, make no difference to the taxes you'll pay.\n\nGood luck on selling your house quickly and at a good price.
633015
First, be aware the tha IRS might not accept that the stock was really a gift if you have an employment relationship with the donor's family.\n\nAssuming that they treat the original transaction as a gift, you inherit the donor's basis. If you sell 25% of the stock now for $9,500, you would have a capital gain of $3,000 ($9,500 - 25% of $26,000). This would be a long-term gain eligible for a reduced tax rate (5% or 15%). The tax you would owe would depend on the complete details of your tax situation.\nThe amount you are receiving is not a dividend and in most circumstances there would be no reporting requirement imposed on your employer.
317927
6% has been the standard (3% to buyers agent, 3% to sellers agent). Now fees have gone down to 2-2.5% for each agent. If there is an agent selling their own house he shouldn't have a fee as they'd have to pay income tax on it. The seller has the pay the fee, so they would just be paying themselves.
878425
You only pay capital gains on PROFIT, not gross proceeds. If you come out at 0, you dont have to worry about capital gains. \n\nI bought house for $152, sold it at $167, and only paid capital gains on about $5K becuase that was all the profit I made on the deal. \n\nAs long as you keep your paperwork to show that the cash you're getting back is your down payment and not profit (hang onto your original closing statement) then the 1031 exchange is a moot point.
316995
You must figure out your total gain.\n\nAdditionally, if you wish to do a 1031 exchange you must replace debt & equity.\nhttp://www.nnnstore.com/1031_capital_gains_calculator.php
96090
It depends on your taxable income
39337
10% penality, plus the tax.  So $2,500 right off the top, plus if you are in the typical 28% tax bracket, you'll have to pay another 7,000 in taxes.
985071
You are saving on the VAT which if you bought the coins in the UK would be another 17.5%.\n\nBe carefull as if you sell in the UK you may be liable for duty.
285863
On a schedule D. It has to be your personal home for the last 2 years to not pay capital gains. Make sure that you add in everything you have ever done to the home while you owned it into the homes basis.(repairs, maintenance) If you are going to buy another rental home then you will fill out 8842 like kind exchanges.
213731
Its not clear, which limits you are referring to but still -\n\nif you are referring to taxable limit it is Rs.4 Lakhs and if you are referring to rate of tax it is 12%
1010503
Well considering you are "rich" guess you didn't pay your fair share.\nJust playing wit cha.\n\nYour tax rate will be determined after your deductions...real estate, educational loans, medical bills, capitol losses and gains etc, but it should be about 25% over the base rate 29K.\n\nhttp://www.savewealth.com/taxes/rates/single/\n\nGood luck and pray we can get a flat tax bill passed through congress ( you'd be downto 17%)
685846
I believe you have to pay on any inheritance you receive.\n\nHere's a website that explains it and also has external links for more info:  http://www.answers.com/Inheritance%20Tax
908562
The percentage you would pay would be based on your other income, it's hard to say without knowing your situation.  On $2500 it would range from about 10% up to 35% depending on your income.  Most people about 15%.\nA way around this for the future, if your children get savings bonds, you can file a tax return for the child each year, declaring the amount of interest the bond earns that year.  Unless your kid is quite wealthy they won't pay any tax yearly and when time comes to cash the bonds they will already have been declared and no tax is due.
27709
We recently purchased a new house and wanted to sell, and reinvest the money into a new one... we called the IRS directly to find out if we'd be charged a capital gains tax, and the answer was yes.  If you sell your primary residence within 2 years, you will be charged a capital gains tax.  However, there could be good news...\n\nLast year if you made 49,5k or less you were only charged a 5% capital gains tax.  If you made more than that, you would be charged 15%.  To help maybe smooth the hit over on your $35k taxes...\n\nYou subtract legal, agent, long-term house upgrades from that number and only claim that as profit from the sale.  So if you made 35k from the sale, but your agent's fees were 10k, legal were 5k and house improvements to the old house were 1k, you would only claim 19k.  \n\nPlease, please please double check this with the IRS and/or your accountant.\n\nOh - and if you moved because you either lost your job, or relocated to a different state (and there are some other things), you could be exempt altogether from the tax.\n\nGood luck!!
259251
I found this online - may be helpful - it's from 2 years ago but should still be generally applicable.  You should talk to a realtor.  \n\nHardship Can Reduce Capital Gains Tax Liability\nby M. Anthony Carr\n\n\nIf you sold your home last year you may owe capital gains taxes if you didn't meet certain criteria. The basics of exempting home sale capital gain from taxes is two fold: \n\n\nYou owned the house for at least two years, and \n\nYou lived in the home as your principal residence for two years out of the last five. \nIf a home seller doesn't meet this ownership and use criteria, then he or she may owe taxes. Frankly, the floor of the gain when taxes begin is so high that most homeowners will never owe capital gains taxes if they meet the two above exemptions. When you consider that the average home sale in 2003 was about $170,000 across the country, then that means most gain from houses sold in the U.S. will never be taxed. For single home sellers, the gain exclusion is $250,000 and for married tax payers, it's $500,000. \n\nHowever, you could owe taxes on less than that amount of gain if you don't meet the two-year exclusion test stated above. Thus, if you bought a house in 2002 and sold it in 2003, you may owe capital gains taxes. The issue of how much you could owe, depending on when you sold the property and for what price, is a book in and of itself. Especially when you consider that the capital gains tax rates changed last year with the new rates going into effect May 6, 2003 (any taxes on gains realized before that date are based on the older, higher rates). \n\nThis column is going to deal with the exemption rules above and how you may be able to bend them or waive them altogether. \n\nThe IRS is not heartless and for some homeowners who had to sell a house in less than two years, it may be possible to claim an exclusion but at a reduced amount, if certain criteria are met. This should answer the question from many of my readers who just can't believe that they might owe taxes on the sale of their home that they lived in for just a year. Well -- you might not owe those pesky taxes, if any of the following reasons are true. \n\nIf you did not meet the ownership and use tests, but the primary reason you sold the home was: \n\n\nA change in place of employment; \n\nHealth; or \n\nUnforeseen circumstances. \nYou may be able to avoid taxes, but you'll not get the full exclusion of $250,000/$500,000. The reduced exclusion is based on a calculation that you can find in IRS Publication 523, which takes into account how long you lived in the house and how long you owned the property to come up with a reduced exclusion amount. So instead of $250,000, it might allow you to exclude $100,000, for instance. \n\nFor those wanting a reduced exclusion because of change of employment, you'll need to at least substantiate that: \n\n\nThe change occurred during the period you owned and used the property as your main home, and \n\nThe new place of employment is at least 50 miles farther from your home than the former place of employment was. \nThe IRS will accept your call for a reduced exclusion for health reasons "if your primary reason for the sale is to obtain, provide, or facilitate the diagnosis, cure, mitigation, or treatment of disease, illness, or injury of a qualified individual," according to Publication 523. Now a qualified individual doesn't have to be the head of household or spouse, it could also include any of the family members listed below: \n\n\nParent, grandparent, stepmother, stepfather; \n\nChild, grandchild, stepchild, adopted child; \n\nBrother, sister, stepbrother, stepsister, half brother, half sister; \n\nMother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, or daughter-in-law; \n\nUncle, aunt, nephew, or niece. \nHowever, the health card cannot be used if the sale of the house merely benefits a qualified individual's general health or we
456285
The only way is to EXCHANGE them for other income property, called a SECTION 1031 TAX-DEFERRED EXCHANGE.  There are rules and time limits, and you cannot take out any cash without paying taxes on it.  If you cash out and just sell the properties, there is nothing to help offset or eliminate the capital gains tax at both the federal and state levels (if your state has income tax).  For more information, you can go look at the Federation of Exchange Accommodators website www.1031.org.
729341
Depending on your tax code and your personal circumstances you should clear about £232.74