Ask Tax Questions
In 2013, what are the tax laws regarding long term capital gains?
My spouse and I have a home we have owned since 2000 in Oregon?
TaxConnections Members... Answer This Question
Want To be One of Our Tax Experts? Register Here
Tax Professional Answers
William Keats
The capital gains tax rate is increased to 20% for 2013. The prior year was 15%.
As far as the home is concerned, if you sell or plan to sell this year, and you file a joint return, the first $500,000 of profit is exempt.
Leave a Comment
246 weeks ago
As far as the home is concerned, if you sell or plan to sell this year, and you file a joint return, the first $500,000 of profit is exempt.
