REAL ESTATE CALCULATORS(More Info)

 
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You have selected to determine the outcome from the sale of a non rental property which could be your primary residence. This model / calculator will help you determine the tax consequences of selling your non rental property and the net proceeds after 1) deducting your first and second mortgages, 2) deducting any possible capital gains taxes and 3) deducting any real estate broker fees.

Below is an example. In order to determine any capital gains taxes you need to determine your cost basis and whether you will qualify for a capital gains tax exclusion. Now click "Go" and you will be prompted to input the appropriate information. Once you have input the appropriate information, click "submit" for the results.

If you would prefer to determine the same results for a rental property or a part rental / part non rental property, then click "sale of real estate" from the above menu. This will take you to a drop down menu where you can select your desired property classification.

 
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Real Estate Calculators / Sale Of Real Estate / Non-Rental Property

PROCEEDS FROM SALE
Value
750,000
Mortgage (First)
230,000
Mortgage (Second)
20,000
Equity
500,000
R.E. Brokers Fees @ 4.50%
33,750
Proceeds After Mort. and RE Fees
466,250
Total Estimated Deferred Tax Liab.*
14,476
Net Proceeds After Taxes
451,774
PROPERTY BASIS
Value
750,000
Less Cost Basis (Purchase Price)
380,000
Less Cost Basis (Rehab Costs)
20,000
Less R.E. Brokers Fees @ 4.50%
33,750
Long Term Capital Gain/Loss
316,250
Exclusion
250,000
Gains After Any Exclusion*
66,250
DEFERRED TAXES
Gains After Any Exclusion*
66,250
Fed. LT Capital Gains Tax @ 15.00%
9,938
State Capital Gains Tax @ 6.85%
4,538
Total Estimated Deferred Tax Liab.*
14,476
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