A capital gains rate of 0% applies if your taxable income is less than or equal to: $47,025 for single and married filing separately; $94,050 for married filing jointly and qualifying surviving spouse; and. $63,000 for head of household.

Form 8949 is required for anyone who sells or exchanges a capital asset, such as stocks, land, or artwork. It tracks both short-term and long-term transactions, with different tax implications for each.

You do not have to report the sale of your home if all of the following apply: Your gain from the sale was less than $250,000. You have not used the exclusion in the last 2 years. You owned and occupied the home for at least 2 years.

Current tax law does not allow you to take a capital gains tax break based on your age. In the past, the IRS granted people over the age of 55 a tax exemption for home sales, though this exclusion was eliminated in 1997 in favor of the expanded exemption for all homeowners.

Deferring Capital Gains Tax: Buying another home after selling an investment property within 180 days can defer capital gains taxes.

Use a 1031 Exchange to Defer Capital Gains It's a popular way to defer capital gains taxes when selling a rental home or even a business. Often referred to as a “like-kind” exchange, this tax deferment strategy is defined in Section 1031 of the Internal Revenue Code.

Long-Term Capital Gains Taxes for Tax Year 2025 (Due April 2026) Married, Filing Separately Taxable IncomeRate $0 - $48,350 0% $48,350 - $300,000 15% $300,000+ 20%

More info

We conform to the IRS rules and allow you to exclude, up to a certain amount, the gain you make on the sale of your home. You'll also need to complete Schedule D (Form 1040) to calculate your capital gains and any exclusions you qualify for.Manage capital gains tax when selling a home in Alameda with guidance from The Gunderman Group. Homeowners who have owned their homes for at least two years are entitled to a capital gains tax exemption when they sell. If you profit from the sale of a home in California, then you may owe some capital gains tax unless you qualify for an exclusion. To stay compliant when you sell a property in California, you'll have to report capital gains on both your federal and state tax returns. A 1031 property exchange allows individuals the opportunity to buy and sell property while deferring capital gains tax consequences. When you sell a home in California, you must complete Franchise Tax Board (FTB) form 593. The City of Oakland assesses a Real Estate Transfer Tax on all Oakland real estate sold or transferred. When you sell a home in California, you must complete Franchise Tax Board (FTB) form 593.

Property Sale Our For Capital Gains In Oakland

Description

Related forms

Show more info

Form Rating

Form popularity

FAQ

What makes you exempt from capital gains?

How do I report a sale of land on a tax return?

How do I avoid capital gains tax when selling a house in California?

At what age are you exempt from paying capital gains?

Is there an exemption for capital gains tax in California?

How long do you have to buy another house to avoid capital gains California?

How to avoid paying capital gains tax on sale of rental property?

What is the capital gains tax on $300,000?

More info

Trusted and secure by over 3 million people of the world’s leading companies