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| REAL ESTATE CALCULATORS(More Info) | |
You have selected to run a sale of property. This model / calculator will help you determine the tax consequences of selling your property and the net proceeds after 1) deducting your first and second mortgages, 2) deducting any possible capital gains taxes 3) deducting any real estate broker fees and 4) deducting any depreciation recapture taxes. 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 (non rental property or part rental / part non rental property only). You will need to select the appropriate property classification. The property classifications are non rental property, rental property, and part rental / part non rental property. Owner occupied property would fall under the property classifications of either non rental property or part rental / part non rental property. HOME Page. |
PROCEEDS FROM SALE |
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(Con-solidated) (c)(d) 100% |
(Non-Rental) (a)(d) 25% |
(Rental) (b)(d) 75% |
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Value
|
500,000 |
125,000 |
375,000 |
Mortgage (First) |
230,000 |
57,500 |
172,500 |
Mortgage (Second) |
20,000 |
5,000 |
15,000 |
Equity
|
250,000 |
62,500 |
187,500 |
R.E. Brokers Fees @ 4.50%
|
22,500 |
5,625 |
16,875 |
Proceeds After Mort. and RE Fees
|
227,500 |
56,875 |
170,625 |
Total Estimated Deferred Tax Liab.(d)
|
39,182 |
4,233 |
34,949 |
Net Proceeds After Taxes
|
188,318 |
52,642 |
135,676 |
PROPERTY BASIS |
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(Con-solidated) 100% |
(Non-Rental) (j) 25% |
(Rental) (k) 75% |
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Value
|
500,000 |
125,000 |
375,000 |
Less Cost Basis (Purchase Price) |
380,000 |
95,000 |
285,000 |
Less Cost Basis (Rehab Costs)
|
20,000 |
5,000 |
15,000 |
Less R.E. Brokers Fees @ 4.50% |
22,500 |
5,625 |
16,875 |
LT Capital Gain/Loss
|
77,500 |
19,375 |
58,125 |
Reduced By Any Exclusion |
0 |
0 |
N/A |
Taxable Gains After Any Exclusion
|
77,500 |
19,375 |
58,125 |
Acc. Depr. |
75,000 |
N/A |
75,000 |
DEFERRED TAXES |
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(Con-solidated) 100% |
(Non-Rental) (l) 25% |
(Rental) (m) 75% |
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Fed. LT Capital Gains Tax @ 15.00% |
11,625 |
2,906 |
8,719 |
State Capital Gains Tax @ 6.85% |
5,309 |
1,327 |
3,982 |
Fed. Depr. Recapture @ 25.00% |
18,750 |
N/A |
18,750 |
State Depr. Recapture @ 6.85% |
5,137 |
N/A |
5,137 |
Total Estimated Deferred Tax Liab. Before Adj. For Any Loss Carryforward |
40,821 |
4,233 |
36,588 |
Loss Carryforward |
(n)
|
N/A |
-7,500 |
Estimated Offset To Tax Liab. Due To Loss Carryforward @ (15.00% + 6.85%) |
(n)
|
N/A |
-1,639 |
Total Estimated Deferred Tax Liab. |
(n)
|
4,233 |
34,949 |
| Analytical Finances, Inc. Contents © 2005 - 2007 |
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