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Capital gains tax is a tax on capital gains if when you sell or give away an asset it has increased in value you may be taxable on the gain this doesnt apply when you sell personal belongings worth six thousand pounds or lesss nor will you have to pay capital gains taxwhen you sell your main home provided certain conditions are met but you will be required to pay cgt on any other properties which you own ie if you own a villa in forta ventura and decide to sll it then any profit you make will be taxable as a capital gain
Whether you pay capital gains on a property is determined by a number of different variables. To get an explanation on capital gains taxes see: http://www.sellmyhomeinmetrowestma.com/Capital_Gains/page_2233154.html
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∙ 14y ago
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Does an llc. corp. have to pay capital gains on the sale of real property?
Yes, of course,
what do I pay in capital gains for 70,000 dollars ?
If I get a severance package check for $120,000.00 how much is withheld in taxes, I live in NY? what do i pay in capital gains on 100000.00 dollars
Do you have to pay capital gains taxes on an inherited property that was sold and inheritance taxes were already paid on the estate?
On the amount the property went up in value from the value used in calculating the estate tax
Do you have to pay capital gains tax in PA?
I think so...
If I sell my home and buy another, will I have to pay capital gains tax?
If you sell your home and buy another, you may or may not have to pay capital gains tax based on what how much equity you have, what law is in your state about capital gains tax, and also your economic situation of how you spend your funds.
Do I have to pay capital gains tax when selling a house?
If the house is your main residence, NO. If however it is a second home or another property you own (say to let out), YES.
Does an llc. corp. have to pay capital gains on the sale of real property?
Yes, of course,
Does the buyer have to pay capital gains on the seller's concession if the property in question is for investment and not primary residence?
No!
Does capital gains tax apply if parent adds children to title of property?
Assuming the children did not pay for the property (whether in cash, goods, services, assumption of debt), capital gains tax does not apply. Gift tax may apply. However, when the property is sold, the children may owe a capital gains tax.
Do you pay capital gains on inheretence?
Yes it is possible that you could have to pay some capital gains tax on the sale of some inherited capital assets.
what do I pay in capital gains for 70,000 dollars ?
If I get a severance package check for $120,000.00 how much is withheld in taxes, I live in NY? what do i pay in capital gains on 100000.00 dollars
Do you pay capital gains tax on your first house?
Yes it is always possible that may be required to pay some capital gains tax on the sale of your first house.
If you buy goods to make a product do you have to pay capital gains tax?
That would be a part of your cost of the product that you are making and would be added to all of your other costs of the product to be your cost basis after the product is finished. For a cake that you are selling it would be a part of the cost of the cake to you that you are selling to someone else. This would not be a capital gains tax sale.
Do people have to pay income tax on realized investments after they pay capital gains tax?
No. You will not pay income tax in addition to capital gains tax if I understand you correctly. However, capital gains tax for an individual is reported and paid on your 1040 income tax return. The only difference is that the rate for capital gains taxes is lower than the regular income tax levels.
Do you have to pay capital gains taxes on an inherited property that was sold and inheritance taxes were already paid on the estate?
On the amount the property went up in value from the value used in calculating the estate tax
Can you reinvest your capital gains?
Sure...but you pay tax on them anyway.
Do you have to pay capital gains tax in PA?
I think so...
