
When you sell a capital asset, such as real estate, you may have to pay capital gains tax on your profits. This guide explains what capital gains tax is, how much you can expect to pay, and when you have to pay it. What is Capital Gains Tax? Capital gains tax is a tax on the profits you make when you sell a capital asset, such as real estate. The amount of tax you owe depends on your tax bracket, the type of asset you sold, and how long you owned the asset. Short-term capital assets, such … Continue reading...