Capital Gains and Tax on Real Estate in California
AuthorSteph Matarazzo. Date:
Getting ready to sell your home can be both stressful and exciting, especially in markets where homes are selling quickly and at high prices. Despite high prices, California is a desirable place not only to live, given its abundant sunshine, beaches, and cultural amenities but also to invest in real estate. However, it’s important to consider the financial costs and tax implications for real estate transactions in the Golden State. Buying a home can be a very lucrative, assuming its value has increased over time. In most cases, when you sell a property, there are taxes, fees, and costs to be paid. Home sellers incur expenses that must be paid to the federal government and sometimes to states. Capital gains tax is a tax on the profit of the sale of an investment such as a home. To ensure selling a home or property is a worthwhile endeavor, it’s important … Continued
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