Hi
Can anyone please tell me how much i can expect to pay to uncle Sam in capitial gains tax every time i sell a property?
Howdy James:
Too many unknown variables. Here are some questions you need to answer: Is the owner a Corp. partnership, LLC or partnership What is your tax bracket. Do you have other losses to offset. Is it a long term deal or short term. Is it your personal residence or a investment deal. Any historical tax credits available. What is the cost basis, fix up cost, holding costs and profit if any. These are only a few of the questions a CPA will need to know.
As Tedjr said there are many variables that go into uncle sams tax bill. If you qualify for capial gains tax you should expect approx. 15% tax.