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Updated over 5 years ago,

User Stats

243
Posts
53
Votes
David Rutledge
  • Irvine, CA
53
Votes |
243
Posts

Capital gains tax help

David Rutledge
  • Irvine, CA
Posted

Hi everyone, 

I purchased an investment property in 2017 for 67k and I’m selling it today for 91k. I am wondering if I will be charged capital gains on this considered that my wife and have travelled overseas for the past seven months and have had no income. This means that our annual income is very low. I am well below 30k for the year and my wife and I may be below that even together.

I know cap gains is charged at certain levels depending on income so I am wondering if I am going to have to pay that tax co side ring my income is so low?

Thanks so much in advance.

David 

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