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Laura B. Bramnick is an experienced Arizona real estate attorney who can help you examine all aspects of your Arizona real estate transaction, including capital gains, 1031 exchanges, and other tax consequences.
6 ημέρες πριν · In this article, we’ll explain what capital gains are, how they are taxed in Arizona. We’ll also show you different tax planning strategies that can significantly reduce your state capital gains tax: Sell appreciated assets in a tax-exempt trust through Charitable Remainder Trusts.
26 Ιουν 2024 · Single filers can qualify for the 0% long-term capital gains rate with a taxable income of $47,025 or less. Married couples filing jointly can qualify with an income of $94,050 or less. Source: IRS.gov (Capital gains table)
17 Αυγ 2020 · For single sellers, the first $250,000 made from the sale of the home will be exempt from capital gains taxes. For married couples, that goes up to $500,000. Here in Arizona, if homeowners have lived in their “main home” for less than two years, they will be liable to pay capital gains taxes.
25 Ιαν 2023 · There are federal taxes that apply to capital gains. Any profit you make from selling real estate is subject to these taxes. However, you may be eligible for an exemption of up to $250,000 or $500,000 for a married couple filing jointly.
In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate this: Take the purchase price of the home: This is the sale price, not the amount of money you actually contributed at closing.
17 Αυγ 2021 · Those expecting an exceptional profit from a home sale should be aware of potential capital gains tax liabilities stemming from home sales.
