| REAL ESTATE CALCULATORS(More Info) | |
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Example Report |
You have selected to determine the outcome from the sale of a non rental property which could be your primary residence. This model / calculator will help you determine the tax consequences of selling your non rental property and the net proceeds after 1) deducting your first and second mortgages, 2) deducting any possible capital gains taxes and 3) deducting any real estate broker fees. Below is an example. In order to determine any capital gains taxes you need to determine your cost basis and whether you will qualify for a capital gains tax exclusion. Now click "Go" and you will be prompted to input the appropriate information. Once you have input the appropriate information, click "submit" for the results. If you would prefer to determine the same results for a rental property or a part rental / part non rental property, then click "sale of real estate" from the above menu. This will take you to a drop down menu where you can select your desired property classification. |
Try It : |
Real Estate Calculators / Sale Of Real Estate / Non-Rental Property
PROCEEDS FROM SALE |
|
Value |
750,000 |
Mortgage (First) |
230,000 |
Mortgage (Second) |
20,000 |
Equity |
500,000 |
R.E. Brokers Fees @ 4.50% |
33,750 |
Proceeds After Mort. and RE Fees |
466,250 |
Total Estimated Deferred Tax Liab.* |
14,476 |
Net Proceeds After Taxes |
451,774 |
PROPERTY BASIS |
|
Value |
750,000 |
Less Cost Basis (Purchase Price) |
380,000 |
Less Cost Basis (Rehab Costs) |
20,000 |
Less R.E. Brokers Fees @ 4.50% |
33,750 |
Long Term Capital Gain/Loss |
316,250 |
Exclusion |
250,000 |
Gains After Any Exclusion* |
66,250 |
DEFERRED TAXES |
|
Gains After Any Exclusion* |
66,250 |
Fed. LT Capital Gains Tax @ 15.00% |
9,938 |
State Capital Gains Tax @ 6.85% |
4,538 |
Total Estimated Deferred Tax Liab.* |
14,476 |
| Analytical Finances, Inc. Contents © 2005 - 2007 |
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