topic no. 701 sale of your home
long-term capital gains are taxed at a lower rate than short-term gains. in a hot stock market, the difference can be significant to your after-tax profits.
understanding capital gains taxes is an essential step in narrowing the gap between what portfolios return and what investors get to spend.
if you sell an asset such as a stock or a property and make a profit (aka a capital gain) you are subject to a capital gains tax on the net profit. luckily, in the case of the sale of your main home, you may qualify to exclude a relatively large capital gain. the exclusion […]
learn how capital gains tax affects your clients when selling properties. equip yourself with knowledge for better mortgage advice.
cryptocurrency and blockchain technology have grown in popularity and ubiquity in the past few years. just within the last year alone, the most well-known and popular type of cryptocurrency, bitcoin, has grown in value from $6,805.38 to $57,517.80.[1] the internal revenue service defines cryptocurrency as a “type of virtual currency that uses cryptography to secure...
learn if you’ll pay capital gains taxes when you sell your home in minnesota or western wisconsin.
capital gains
florida has introduced a groundbreaking bill that could change how bitcoin, xrp, and stocks are taxed—at least at the state level. if passed, this
there are tax implications when selling a property located in the u.s. that you need to be aware of to avoid unpleasant surprises.
ballotpedia: the encyclopedia of american politics
carried interest tax rules have offered favorable tax treatment for the general partner of a private investment fund. but is the end in sight? here’s what you need to know.
in florida, most beneficiaries are free of inheritance tax, but there are exceptions. find out when inherited assets are taxable and what options you have.
discover the florida capital gains tax and its rates in 2025. learn about some tax planning strategies to reduce your capital gains taxes.
the capital gains tax is essentially a federal tax on the profits of corporations that do business within the united states. a capital gain is made when a capital asset is sold for higher than its original purchasing price. there are two types of capital gains taxes: short-term and long-term taxes. short-term capital gains tax […]
you may owe capital gains taxes if you sold stocks, real estate or other investments. use smartasset
when you sell a stock, mutual fund, investment property, or a business, if you have made money on that investment, the irs is kindly waiting for a piece of that gain in the form of capital gains tax. capital gains are taxed differently than the ordinary income that you received via your paycheck or
the capital gains tax in florida applies to earnings from investments, including real estate. here's a breakdown of state capital gains rules.
curious how much you
capital gains taxes hit when you profit from selling assets like stocks, real estate or cryptocurrencies. but how much you owe depends on how long you held an asset and how much income you made that year. short-term gains (assets held for a year or less) can be taxed as high as 37%, while long-term
when designing an estate plan in florida, one critical decision many individuals face is how to transfer property to their loved ones. two common methods are inheritance through a will or trust and the use of a deed or gift during your lifetime. while both options ensure that your property reaches the intended beneficiaries, there… continue reading florida estate planning considerations – stepped up cost basis
wondering how much you should be paying in capital gains taxes if you live in florida? a financial planner is a great resource to help reduce your liability.
2025 real estate capital gains tax by state for each state in the us and d.c.. capital gains state tax rates displayed include federal max rate at 20%.
cgt varies from state to state, our article shows your the rates across the us, with an interactive map to show the highest and lowest rates.
investing in the us can be lucrative, but like any other form of income, it comes with tax implications for nonresident aliens. the typical rate of us capital gains tax is 30% for us-source net capital gains if you are in the us for 183 days or more of a tax year. if you are living abroad during the whole tax year and invest in us stocks, you won’t pay cgt in the us but you may need to pay it in your home country.
learn what you need to know about the sales tax on the sale of a florida business directly from attorney romy b. jurado, esq. call (305) 921-0976.
florida real estate is not just a sunny lifestyle choice—it’s also a powerful investment. but when it comes to passing on your property, the how and when can have a major impact on your family’s tax liability. whether you’re thinking about gifting your property now or leaving it to loved ones in your estate, understanding …
understanding the difference between long- and short-term capital gains ensures that the benefits of your investment portfolio outweigh the tax costs.
https://cdn.prod.website-files.com/5cd5801dfdf7e5927800fb7f/67bc8256d90d5bdaf31b4ad3_property-tax.png
calculate your capital gains tax effortlessly with our free tool. get started today!
the goal of an investment - whether you place your money in stocks, a business or real estate - is generally to end up with more money than you started with. when you earn enough money from investments, you
learn about property gains tax in florida, including federal obligations, exemptions for primary residences, and strategies to minimize taxes when selling properties.
find the capital gains tax rate for each state in 2024 and 2025. learn more about options for deferring capital gains taxes.
in florida, we are lucky to have an incredibly low tax burden. in fact, florida comes in second as the state with the lowest taxes in the country. florida is well known for not having an estate or inheritance tax - and it also does not have an individual income tax. no state income taxes mean you won’t pay any taxes to the state on any profit you earn from selling your house in florida. however, you may still need to pay a federal capital gains tax, a transfer tax, and any outstanding property taxes for the year. the taxes you will owe will be based on the value of your home and the length of time you owned it. at eaton realty, we know that the decision to sell a house is a big one. we are committed to walking our clients through each step of the process, from the initial decision list to pricing to staging and marketing to closing. if you’re interested in selling your house in hillsborough county, reach out to our real estate team to learn more about our full-service brokerage. what taxes will you pay when selling your house in florida? florida is indeed an incredibly favorable state when it comes to taxes. if you live in the sunshine state, you won’t pay a state income tax. your loved ones also won’t pay any estate or inheritance taxes when you pass away. yet there are still taxes in florida - including those related to the sale of real estate. below, we break down the taxes you may have to pay when selling your home in west central florida. capital gains tax when you sell a house, the profit you realize is known as “capital gains.” capital gains are any profits you make when selling an asset - such as a piece of real estate or a stock. they are considered income and may be taxable at the federal level. because florida doesn’t have income taxes, you won’t pay a capital gains tax on the sale of your home here. the amount of capital gains taxes you pay depends on multiple factors, including your income and the length of time that you have owned the house. if you sell your primary residence, you may also benefit from an exemption. first, the irs classifies capital gains as short-term or long-term based on how long you own it before selling it. if you own a piece of property for a year or less, it is a short-term capital gain taxed as ordinary income. if you owned the property for at least a year before selling, it will be taxed as a long-term capital gain - at a much lower percentage rate. the tax rate for long-term capital gains varies based on income and filing status. the current rates for 2025 are listed in the table below. filing single income tax rate $0 to $48,350 0% $48,351 to $533,400 15% $533,401 or higher 20% married filing jointly income tax rate $0 to $96,700 0% $96,701 to $600,050 15% $600,051 or higher 20% for most people, this tax rate is much more favorable than the rate at which their ordinary income is taxed. that being said, it can still take a chunk out of your profits. fortunately, there is an exclusion for homeowners who are selling their primary residence. if you are selling your family home, you can exclude up to $250,000 of profits for single filers and $500,000 of profits for married filers. to qualify for this exclusion, the following must be true: the house must be your primary residence; you must have owned the home for at least 2 out of the past 5 years; you must have lived in the house for at least 2 years (cumulatively) out of the last 5 years (this time does not have to be consecutive as long as it adds up to 2 years); you didn’t acquire the home through a like-kind exchange (swapping one property for another); you haven’t taken the exclusion on another home within the past 2 years; and you aren’t living abroad and are not subject to the expatriate tax. for example, consider a situation where you bought a house in tampa for $250,000 in 2017. you have lived in this home as your primary residence since you purchased it. in 2024, you sold the house for $500,000. in this situation, the $250,000 in long-term capital gains would be covered by the exclusion - so you wouldn’t pay any income taxes on the sale of your home. because your house is an investment, you might be able to effectively deduct improvements to the house out of your profits in order to avoid paying capital gains taxes. consider a situation where you put $100,000 in renovations into your $450,000 house and sold it for $1,000,000. you may still qualify for the capital gains exemption if you documented those $100,000 improvements on your taxes. of course, any issue involving the internal revenue service (irs) can be complicated. if you have any questions about your federal tax liability, you should always consult with a tax professional. transfer tax when you sell a piece of property in the state of florida, it will be subject to a documentary stamp tax - also known as a transfer tax. the seller typically pays this tax which is calculated based on the sales price. depending on the market, splitting the transfer tax with the buyer may be possible- or even having them pay it entirely. in florida, the documentary stamp tax rate is 70 cents per $100 (other than miami-dade county, where the rate is 60 cents per $100). in the example above, if you sold your tampa house for $500,000, the transfer tax would be $3,500. this tax essentially covers the governmental functions associated with real estate. specifically, the tax pays for all the legal necessities of transferring the title to another owner, like recording the deed. property taxes the final tax you may have to pay is any property taxes for the year you have not yet paid. generally, you are responsible for property taxes for any portion of a year in which you live in the house. if you haven’t yet paid property taxes for the year when you sell your house, then you will owe a prorated amount based on your current property tax assessment. if you already paid property taxes, then you may get a refund. of course, property taxes are something that you will owe regardless of whether or not you sell your house in a given year. but many people may not realize they will have to pay their share of the year’s property taxes when they sell their house - which can be an unwelcome surprise. sell your house with eaton realty no one wants to pay taxes - especially when they are looking forward to enjoying a profitable sale on a piece of real estate. unfortunately, taxes are a reality of life - even in florida. depending on your unique situation, you may owe some federal and state taxes on the sale of your house, which is something you should account for when pricing your home. at eaton realty, we help buyers and sellers navigate the often-tricking waters of real estate transactions in the greater tampa area. if you’re looking to list your house and want to get top dollar for it, we can help. to learn more about our real estate services, fill out our online contact form or give us a call at 813-672-8022 to talk to a team member. the information disclosed above does not constitute legal or financial advice. use this information at your discretion and consult a legal or financial professional for further guidance.
description of capital gains tax cgt rates
aarp's state tax guide on florida tax rates for income, property, retirement and more for retirees and residents over 50.
find out if you qualify to exclude from your income all or part of any gain from the sale of your personal residence.
learn how to navigate capital gains tax in florida. discover exemptions, strategies and tips to help minimize federal tax liability and optimize returns.
savings and investment are critical activities, both for individuals’ and families’ financial security and for the health of the national economy as a whole. as such, policymakers should consider how they can help mitigate—rather than add to—tax codes’ biases against saving and investment.
having an effective tax strategy is critical to your success as a multifamily investor. otherwise, you could see a large portion of your profits consumed by an outsized tax bill.
for commercial real estate investors, understanding the impact of capital gains taxes — and how to minimize that impact — is essential to maximizing returns.