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-   -   What is the capitol gains rate for Washington state? (https://www.askmehelpdesk.com/showthread.php?t=629283)

  • Jan 21, 2012, 10:14 AM
    marleyjeanne
    What is the capitol gains rate for Washington state?
    How can I find out the capitol gains tax rate for Washington state? Im getting cashed out (early) on 2 house's I sold many years ago. No I really don't want to derfer it etc. Is my regular annual income somehow figured in? I made aprox $30,000.00 last year but have not filed for taxes in ages.
  • Jan 21, 2012, 08:46 PM
    MukatA
    You must file tax return if your income exceeds the filing requirements.
    Gain from the sale of house is reported on schedule D (Form 1040) unless it is your main home and you meet the requirements to exclude gain of up to $250,000 on the sale of main house.
  • Jan 22, 2012, 11:20 AM
    marleyjeanne
    So does my income of $30,000.00 exceed the filing requirements? No these houses were not my main home. It would be long term gain but I still don't have a clue what tax rate Washington State has for capitol gains. Can you tell me?
  • Jan 22, 2012, 12:19 PM
    ebaines
    Washington State has no income tax, so you pay nothing to WA on the gain from the sale of your property.

    The capital gains tax rate for your federal income tax is 15%, but it may be less if you are in a lower tax bracket.
  • Jan 22, 2012, 07:40 PM
    MukatA
    Filing requirements Your U.S. Tax Return: 2011 Filing Requirements for Most Taxpayers

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