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?
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.
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The minimum income amount depends on your filing status and age. In 2017 for example, the minimum for single filing status if under age 65 is $10,400. If your income is below that threshold, you generally do not need to file a federal tax return. Review our full list for other filing statuses and ages.