Capital gains are taxes that you pay on profit as a result of selling an asset. Usually you reconcile these when you do your IRS tax returns. You get a credit for the cost of the house (and...
The federal long term capital gains rate is 15% for most people. For low income people in 2008 thru 2010, the rate is 0%. The federal rate for short term capital gains is the same as the rate on...
You don't have any capital gains until yo sell the shares. Shares in tax-deferred retirement plans such as IRAs and 401ks do not generate capital gains, even if you sell them. (There is one...
In simple answer...yes, presuming you had a gain (and it was an investment property, not a business in which case it would be ordinary income). There are ways to mitigate it and something called...