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Old 09-07-2016, 11:42 AM
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quick question

How much capital gains tax would be in California for a property that I bought in 1997 for $500,000 and sold today for 1,000,000?



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Old 09-07-2016, 11:04 PM
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Quote:
Originally Posted by cuba View Post
How much capital gains tax would be in California for a property that I bought in 1997 for $500,000 and sold today for 1,000,000?
it depends; unless your tax rate is higher than 15% , then 0% if yur tax rate is 25% or higher than then 15% , if the tax rate is 39.6% then it will be 20% on the Long term capital gain



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Old 09-08-2016, 06:38 PM
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Sorry it is my bad as I gave you federal LTCG rate ; for your CA long term capital gain tax rate, you need to contact CA tax svc;
https://www.ftb.ca.gov/forms/search/index.aspx



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