Colorado Capital Gains Tax Exclusion. O 39 22 518 c r s. Capital gains tax is the tax imposed by the irs on the sale of certain assets.
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Tax modification for net capital gains. The only time you are going to have pay capital gains tax on a home sale is if you are over the limit. Tangible personal property acquired on or after may 9 1994 and held for five uninterrupted years or colorado located real property acquired on or after may 9 1994 and on or before.
In colorado you ll pay capital gains taxes at the same rate you pay on your general income.
Tax modification for net capital gains. Since june 4 2009 the exclusion has been capped at 100 000 per qualified taxpayer per year and is applicable to capital gains recognized on the sales of. O 39 22 518 c r s. Lowering your tax liability if you are a qualified colorado taxpayer you can deduct the amount of capital gains tax that you paid to the federal government from your colorado capital gains tax liability.
