It depends on your gain, holding period, and property type. Federal capital gains run 15-20%, plus 3.8% NIIT, plus NYS income tax up to 10.9%, plus NYC income tax up to 3.876%. Add 25% depreciation recapture on investment property. Total effective rates can reach 35-40% of your gain. This is why modeling multiple scenarios - including §121 exclusion and 1031 deferral - is essential before setting your price.
From the seller playbook: Net Proceeds Modeling Under Multiple Tax Scenarios
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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