Solved
We've owned a second home for 20years and recently sold it. Gain was around $114K and my income is $50K What is the capital gain rate? 15% or 28%
No text available
Your total taxable income would likely put you in the 25% tax bracket if you are married filing jointly. That would result in a long term capital gains tax rate of 15% on the capital gain on the home sale on your federal tax return. You would need to check your state tax return situation.
Get answers to all your tax questions
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
