Home Buying in 95060>Question Details

Heather Gard…, Home Seller in Santa Cruz, CA

Will the newly passed Prop 30 affect taxes on capital gains from real estate sales?

Asked by Heather Gardner, Santa Cruz, CA Thu Nov 8, 2012

If I sell a home at the $500K basis for say 3.5 million will prop 30 affect the gain more now or keep it the same?

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Answers

2
You should be more concerned about the 3.8% tax that's part of the ObamaCare program. It takes effect Jan 2013... so you have 6 weeks to sell to avoid it completely and I'd be glad to help :) !
A tax advisior can give you more specifics...

CHEERS!

Molly Thompson, Broker Assoc, APR
http://www.MollyThompsonHomes.com
831-588-1752
0 votes Thank Flag Link Tue Nov 13, 2012
Good Question
You should ask a CPA on a cpa blog.
As realtors we are not allowed to answer legal or tax questions.


Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
harold@socalhomes.biz
http://www.socalhomes.biz
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Sat Nov 10, 2012
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