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what is the capital gains tax rate for an investment property i sold this year. It was coporate owned by me a
and held for more than a year
5 Answers
- TaxManLv 51 decade agoFavorite Answer
Your question isn't worded grammatically correct and, I believe, is being misinterpreted. Are you saying you owned part of a corporation that you purchased as an investment and sold it after a year? If you owned stock in a corporation and held it for over a year and sold it, you will have long term gains (or losses). If this is the only capital gains you had all year, it will be taxed at 15% if your marginal tax rate is greater than 20%, and it will be taxed at 5% if your marginal tax rate is less than 20%. If it is a loss, it will offset other income up to $3,000...the remainder (if any) will carry over to next year. If you had other gains or losses, all of them net together.
- waggy_33Lv 61 decade ago
When you say corporate owned by you do you mean that you have a corporation that owned the stock. If so then it matters if the corporation is a C corporation or an S corporation. If a C corporation the icome is taxed at the corporate rate or if it is paid out as salary to you it is taxed at your tax rate. If it is an S corporation then the gain would generally pass out as long term capital gain subject to a 15% federal tax rate.
If you are saying that you invested in a corporate stock and you sold it at a gain then you would be taxed at 15% on your tax return.
You might want to check with a CPA.
- jinenglish68Lv 51 decade ago
if the property was owned by a corporation, then the corporation is responsible for the tax, not you.
Unless, of course, this corporation is an S Corporation and the income passes through to you.
In that case, the gain will be taxed at a maximum rate of 15%.
Unless there is some Sec. 1250 recapture, which can be taxed at a maximum rate of 25%.
Do you understand why you shouldn't rely on Yahoo answers for complicated tax and legal questions?
- 4 years ago
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- PlasmapuppyLv 71 decade ago
Get a professional financial advisor. It is worth the investment to get it right.