Capital Gains Tax Calculator 2013
This calculator will help you estimate your capital gains tax exposure and the net proceeds from the sale of your asset (investment property or otherwise). It was updated in 2013 to reflect changes in Medicare taxes and several state tax rates (including CA). You should consult your CPA or tax attorney if you have any questions.
|Estimated After-Tax Equity (Net Proceeds)|
|26||Total Sales Proceeds (Including Debt):||$ 0.00||Copy total from Total Sales Proceeds w/Debt.|
|27||Debt on Relinquished Investment:||$||Include total debt/liabilities on relinquished investment.|
|28||Gross Equity Proceeds from Sale:||$ 0.00||Subtract Debt on Relinquished Investment from Total Sales Proceeds (Including Debt).|
|29||Total Estimated Capital Gains Tax:||$ 0.00||(carried over)|
|30||Net Equity Proceeds From Sale:||$ 0.00||Subtract Total Estimated Capital Gains Tax from Gross Equity Proceeds from Sale.|
Taxes are what we at 1031Gateway refer to as "guaranteed losses" and we attempt to defer or eliminate them wherever it is possible. Read about the primary ways in which an investor can legally avoid capital gain taxes. These include the 1031, 721, & 1033 tax-deferred real estate exchanges, Deferred Sales Trust (DST), and various tax write-offs and credits. Capital gains taxes and decpreciation recapture taxes can be deferred indefinitely through the use of such exchanges. This tax burden can then be avoided permanently through a "step up in basis," whereby heirs inherit property and realize a basis adjustment to the current market value as of the date at death or alternate valuation date. The heirs then receive a new depreciation schedule, which can be utilized to shelter the property's income from taxes.