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?
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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.
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390 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.