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Does a Widow Have to Pay Capital Gains Tax?
A Guide for Investment Property Owners Navigating Loss and Tax Liabilities
Do Short-Term Capital Gains Count Towards Adjusted Gross Income (AGI)?
Understanding the tax consequences is an important factor when selling investment properties or other appreciated assets. One common question we hear at Realized® is: Do short-term capital gains count towards Adjusted Gross Income (AGI)?
Do Long-Term Capital Gains Count Towards Adjusted Gross Income (AGI)?
When selling an investment property, it is essential to know that the sale can affect your tax obligations more than the capital gains. One of the most frequent questions that people ask when they contact Realized is:
Do Capital Gains Affect Medicare Premiums?
Selling an investment property in retirement might boost your income—but it could also lead to unexpectedly high Medicare premiums. If you’re not careful, your capital gains might trigger costly adjustments.
Important information to Know About Depreciation and Real Estate Sales
Real estate assets undergo wear and tear and other factors that can impact their useful life. This opens the door to depreciation, which can help reduce your tax liability while you own investment or business property.
Qualifications for Reducing Capital Gains Tax
Capital gains taxes are an expense that can increase the cost of selling real estate assets. If you sell your assets for a profit, you’ll owe a certain amount–0%, 15%, or 20% of the proceeds--to the IRS. Additionally, depreciation recapture (taxed up to 25%) and the 3.8% Net Investment Income Tax (NIIT) may apply, depending on income level and prior deductions.
Using Expenses to Reduce Capital Gains Taxes
Capital gains taxes (CGT) can represent a significant expense when you sell a property. However, there are ways to reduce the tax liability, including using certain expenses to offset realized gains.
What Is The Difference Between Capital Gains and Capital Gains Taxes?
If the real estate you own increases in value and you want to sell it to reap the profits. Doing so results in capital gains, which is positive. What’s not so positive are the capital gains taxes you might owe.
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