Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 07-12-2017, 03:47 PM
Junior Member
 
Join Date: Jun 2017
Posts: 2
Capital Gains Tax Rate

What is the capital gains tax rate when selling a house in New York?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 07-13-2017, 06:39 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
Quote:
Originally Posted by dusabrive View Post
What is the capital gains tax rate when selling a house in New York?
Like most states that tax capital gains, New York taxes capital gains at the same rate as ordinary income, such as your wages. New York taxes residents using an eight-bracket progressive tax system, where the tax rate increases along with taxpayer income. For single taxpayers, the tax rates on both regular income and capital gains are 4 percent for income up to $8,300;4.5 percent for income from $8,301 to $11,450;5.25 percent from $11,451 to $13,550;5.9 percent for income from $13,551 to $20,850;
6.45 percent from $20,851 to $78,400;6.65 percent for income from $78,401 to $209,250;6.85 percent from $209,251 to $1,046,350;8.82 percent for income of $1,046,351 or more.
For taxpayers filing jointly, these brackets roughly double. For example, the lowest 4 percent bracket extends for joint incomes up to $16,700, while the top bracket applies to incomes of $2,092,801 or more.New York capital gains taxes are among the highest in the nation, with individual rates ranking 7th-highest as of 2013. Nine states don't have any capital gains taxes at allNew York City residents face an additional tax that ranges from 2.907 percent to 3.876 percent. Income and capital gains tax rates for New York City residents are; 2.907 percent for single filers with income up to $12,000, or $21,600 for joint filers;3.534 percent for single filers with income up to $25,000, or $45,000 for joint filers;3.591 percent for single filers with income up to $50,000, or $90,000 for joint filers;3.648 percent for single filers with income up to $500k, same as with joint filers;3.876 percent for single filers with income above $500k for all filers. pleasecontact teh NY jurisdiction for more info in detail



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
capital gains tax rate for 15% income tax bracket mikectm2 Capital Gains 1 03-29-2015 02:17 AM
Need help with 0% Capital Gains Rate on Sale of Home Klaus For 2012 1 10-16-2013 10:02 AM
Tax Rate on Corporate Capital Gains? sasha101 C-Corporation 1 08-08-2013 03:18 AM
Long term capital gains rate for active trading LLC lukedog Limited Liability Company 1 09-22-2012 04:52 AM
2008 Capital Gains & Qualified Dividends Tax Rate SurferDude Capital Gains 0 09-13-2008 01:16 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.