Florida Capital Gains Tax Calculator

Start with your amount realized (sale price minus selling costs like agent commissions, escrow/title fees, and transfer taxes). Subtract your adjusted basis (purchase price + capital improvements + certain acquisition costs − any depreciation claimed). The result is your capital gain or loss.

Yes. Capital improvements (adding a room, a new roof, major systems) increase your basis and can reduce gain. Routine repairs don’t. Selling costs such as agent commissions, advertising, escrow fees, and transfer taxes reduce the amount realized. Some purchase closing costs (title, recording) increase basis; loan-related costs generally don’t.

If the property was ever a rental and you took (or should have taken) depreciation, that portion of gain is "unrecaptured Section 1250 gain" and is taxed up to 25%. Any remaining gain may qualify for long-term capital gains rates if you held the property more than one year. The home-sale exclusion doesn't apply to the recaptured depreciation.

If you owned the property for one year or less, gains are short-term and taxed at ordinary income rates. More than one year is long-term and generally taxed at 0%, 15%, or 20% depending on your income. High-income taxpayers may also owe the 3.8% Net Investment Income Tax.

Possibly—for investment or rental property only (not your primary residence). Using a qualified intermediary, you must identify a replacement property within 45 days and close within 180 days. A proper 1031 exchange defers both capital gain and depreciation recapture; your basis carries into the new property.

No. Your gain is based on sale price versus adjusted basis, not how much equity you receive. Paying off the loan affects your cash at closing, but it doesn't change the taxable gain calculation. If you're selling and want to spread out tax payments, consider seller financing which may allow installment sale treatment.

Yes. Net capital losses from other investments can offset capital gains. If losses exceed gains, you can generally deduct up to $3,000 ($1,500 if married filing separately) against ordinary income each year and carry the remainder forward.

No. Florida doesn't have a state income tax, so there's no separate Florida capital gains tax on your home sale. Federal capital gains rules still apply, and local transfer or recording fees may apply but aren't a state capital gains tax. Florida homeowners should also consider applying for homestead exemption to save on property taxes.