Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-01-2016, 01:44 AM
Junior Member
 
Join Date: Apr 2016
Posts: 1
Capital Gains on Investment Property

In 2015, my wife and I sold an investment property that we purchased several years ago. This property has never been rented and we have never used it as our permanent residence.
If our joint Taxable Income is a little over $60,000 (which puts us in the 15% tax bracket), and the net profit due to the sale is approximately $14,000, does the 0%/15%/20% Capital Gains Calculation table apply to our sale, thereby resulting in us owing no capital gains?
Also, if the above does apply, what form is it reported on and is there a worksheet that pertains to it.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Capital gains on jointly owned investment real estate nick06 Capital Gains 1 09-05-2015 11:14 PM
Capital Gains on Inherited Property Kev28 Capital Gains 0 11-15-2014 03:54 PM
Capital Gains Tax on Gifted Property Jeremy Caldwell Ohio Capital Gains 5 02-06-2014 04:06 PM
capital gains on a rental property conkey Capital Gains 1 02-07-2012 03:47 AM
Will Capital Losses on investment property be offset against Gains from Stock trades? Tanya Capital Gains 0 11-05-2007 11:24 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning