I'm selling a property in Houston that I've owned for several years. How are capital gains typically handled, and can you guide me through the process?

by Frosy Trapezountios

When selling a property in Houston that you've owned for more than a year, the profit from the sale is generally considered a long-term capital gain. The tax rates for long-term capital gains are typically lower than ordinary income tax rates and range from 0% to 20% depending on your taxable income. As your Houston real estate agent, I, Frosy, with AskFrosy Team | Houston Real Estate, can't provide tax advice, but I can help you understand the real estate transaction process and connect you with qualified tax professionals in Houston who can advise you on your specific capital gains tax obligations. Contact me today for a free home evaluation and to discuss your selling strategy.