Capital gains and losses are taxed differently from income like wages, interest, rents, or royalties, which are taxed at your federal income tax rate (up to 37% for the 2024-2025 tax filing season).

You also might be able to use a 1031 exchange to defer capital gains taxes. However ... cooking, and bathroom facilities). The $1 million mortgage interest limit will return in 2025 when the ...

How do I document the improvements for the capital gains tax calculation? Answer: As you probably know, you can exclude $250,000 of capital gains from the sale of a principal residence as long as ...