California Real Estate Sale Tax Withholding. (b) statutory basis and rates. An election is made to.
593I Form Real Estate Withholding Installment Sale Acknowledgment - image credit : formupack.com
October 2, 2019 9:21 am. An election is made to. your actual tax on the sale, (at a profit, seemingly), for federal purposes will be some combination of depreciation recapture, taxed at the rate of 25%, and long term.
593I Form Real Estate Withholding Installment Sale Acknowledgment
This will take you to screen 55.012, california withholding. los angeles’ transfer tax is around 0.45%, so if you’re selling a home there worth $500,000 you’ll have to pay a 0.11% transfer tax to the state ($550) and a city. An additional tax on real estate sales. Your gain from the sale was less than $250,000.
