Capital Gain Tax Question

[James W.]

Hi guys,

Does anyone have real experience paying Capital Gain tax on an investment property?

We can use an example of a condo purchased at 500k and sold at 1M, held for 5 years with no owner residency. 

How much tax is the owner liable to pay on this sale? 

Fed and State separately and combined?

State is NJ, but I can hear experiences from anywhere.

Thank you.