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Varinder Kumar
  • Real Estate Broker
  • LA & ORANGE COUNTY CA -Multi Family
132
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374
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help me calculate this capital gains

Varinder Kumar
  • Real Estate Broker
  • LA & ORANGE COUNTY CA -Multi Family
Posted

Looking to sell my current property for $710,000 balance remaining is $580,000. Purchased October 2021, so it has not been 2 years yet. 

How much percentage capital gains tax will i pay?

Is the capital gains tax calculated based on the difference of my outstanding balance and and selling price? or

the difference between selling price and outstanding balance minus closing costs, commissions, etc?

what is the total capital gains i will be paying if i sell without doing 1031?

please advise i appreciate your help!

  • Varinder Kumar
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