Capital Gains Tax in Iowa

[Jason Bergan]

Does anyone have information on the state and federal capital gains tax (Iowa to be state specific) I have clients wanting to flip and would like to give them an accurate estimate of proceeds.

[Natalie Kolodij]

@Jason Bergan I own a tax firm that specializes specifically in REI. There are several other tax professionals on here as well. I'm guessing that you are an RE Agent/Broker.

I would recommend forming a relationship with tax professional who can advise and work with your clients.

I would say 3/5 times someone does someone because their "agent said the tax would only be....." It's completely wrong. It also opens you up to liability by advising on a field you're not a a professional within.