Question

I have a capital gains rental property question. If I sold a home that I rent out, am I subject to rental capital gains on the sale?

Answer

Yes. Regarding capital gains rental property, you are liable for rental capital gains. You can only exclude capital gains from the sale of your main home.

Any gain on the sale of rental real estate is subject to rental capital gains tax. However, unlike with your personal home, you can claim a loss on the sale of rental property.

Related Topics

Related Resources

Do I Have to Pay Taxes on a Gift?

Do you have to pay taxes on a gift? Learn about gift tax exclusion rules with help from the tax pros at H&R Block.

For Pro Golfers, Tough Taxes Are Par for the Course

Professional golfer taxes can be complicated and confusing. Learn more about tricky golfer tax issues like travel deductions and residency rules with H&R Block.

Job Taxes

Learn how to maximize your salary and benefits with more information on new job tax forms and deductions from the tax experts at H&R Block.

Is Disability Insurance Taxable?

Find out if disability insurance is taxable when you file your next return. H&R Block explains everything you need to know about disability insurance.