Your total investment, including the initial purchase price, taxes, and improvement expenses.
The amount earned from selling the asset.
Assets owned less than one year are subject to short-term capital gains taxes, which match federal income tax rates. assets owned more than one year are subject to long-term rates.
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Results
Estimated capital gains:
$15,000
Estimated capital gains tax:
$500
at
10%
Total estimated federal income taxes:
$8,391