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Updated 9 months ago, 03/29/2024

User Stats

347
Posts
25
Votes
Horacio Gutierrez
  • Rental Property Investor
  • Downey, CA
25
Votes |
347
Posts

Capital gains taxes on sell property

Horacio Gutierrez
  • Rental Property Investor
  • Downey, CA
Posted

Hello,

Say I sold a home and I paid capital gain taxes because I lived in there home more than 1 year. Where my capital gain was $50,000 my capitals gains tax bracket was 10% which leaves with $45000 profit. Do I have to add those $45000 to my income and then I pay taxes and my ordinary tax bracket wiil be the $45000 plus my work income, do I get taxed twice?

Thanks,

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