When you sell a stock, you owe taxes on the difference between what you paid for the stock and how much you got for the sale. The same holds true in home sales, but there are other considerations. Download this helpful worksheet that can assist you in calculating Capital Gaines.
A capital gain occurs when you sell something for more than you spent to acquire it. This happens a lot with investments, but it applies to personal property, too. Buy a used car for $3,000 and sell it for $5,000 a week later, and you have a $2,000 capital gain—same as if you bought stock […]