Capital Gains On The Sale Of Your Primary Residence

One of the first considerations when selling your home is whether you will owe capital gains tax. While most homeowners will not pay a tax, there are certain rules that come with the exemption. Calculate below to determine if you will need to pay capital gains tax on the sale of your home.

Information On Your Home

Purchase price of your home including fees (title, taxes, settlement, and all other closing costs) ($)

Cost of improvements made to the home ($)

How long have you owned this home?

Has this been your primary residence for at least 2 of the last 5 years?

Sale price of your home minus fees (title, appraisal, real estate commission, and all other closing costs) ($)

Assumptions

Federal marginal tax bracket help

Tax filing status

Does your combined income exceed $250,000 if married filing jointly, $125,000 if married filing separately, or $200,000 if single or filing as head of household?

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

Cash Flow

College

Credit & Debit

Home & Mortgage

Taxation

Insurance

Paycheck & Benefits

Qualified Plans

Retirement

Saving

Investment

Auto

Business

Other