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rleinvprop
Real Estate Investors
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Long Term Capital Gains Tax
Friday, February 23 2007 11:46 AM
I remember from a seminar I was at that the Long Terms Capital Gains tax was going to be zero, or at least very low, in the future (2007 thru 2012). Does anybody know which year that is, what the rate will be, or where I can quickly find the information.
I/we are talking to a seller who is concerned about tax consequences in selling multiple properties at once. I want to suggest that he lease option the properties, to sell in the year when his tax obligation would be the lowest.
Lori Elliott
Robert & Lori Elliott
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Randy Hughes
Master Advisor-39 years of experience
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Re:Long Term Capital Gains Tax
Friday, February 23 2007 07:36 PM
Bob and Lori,
I think that it is 2009 or 2010. I am in florida right now and cannot check my records. I will check and confirm this for you on monday.
Randy Hughes
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Randy Hughes
Master Advisor-39 years of experience
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Re:Long Term Capital Gains Tax
Monday, February 26 2007 11:29 AM
Lori and Bob,
It is 2010 that there will be zero capital gains tax.
Randy Hughes
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neson32
business
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Re:Long Term Capital Gains Tax
Saturday, October 03 2009 01:13 PM
This is only my view. I am not sure about it because this kind of income is very rare. For correct answer you have to consult a CA.
If the income on shares traded at US is treated as long term capital gains for a resident Indian, it is taxed at 20% since no transaction tax has been paid on it. The gains will have to be indexed which will reduce the gains to some extent.
I think it may be taxed at US also. If it not taxed at US, then you can pay tax in India. Other wise you have to go through double taxation benifts. www.remaxstilbaai.co.za
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