How is Capital Gains calculated on selling real estate ?
Can’t find anywhere in the new tax bill.
I don't believe it's changed. With the $500k capital gain exemption for a married couple on a house sale, it would take a lot to go beyond that. Since that is likely to occur in states such as CA and NY, Freepers will be delighted to see the homeowners in those states not get any additional break, even those who have lived in the same house and/or deferred capital gains for over 30 years.
BTW, the 3.8% Obamacare tax on capital gains beyond $250k (married couple; $125k single; $200K head of household) looks to still be in place. This is for most non-business capital gains.
The bill is actually a list of specific changes that are to be inserted into the actual tax code. In other words, the bill is hundreds of pages of adds, changes, and deletes which can only be fully understood within the context of the existing code. So, if there is no mention of a given topic, you can assume there will be no changes.