If I sell a commercial building, is capital gains one set percentage or does it go up in steps
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Tax Professional Answers
John Stancil
The capital gain rate varies with your taxable income. Assuming you are referring to a long-term capital gain, the rate can be zero, fifteen, or twenty percent. In addition, you may be subject to a 3.8% net investment income tax if your income exceeds certain levels. I would also add that depreciation recapture is taxed at 25% on the sale of capital property.
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431 weeks ago