Free Tax Tool
Use taxable income after deductions, before the property sale.
Used only for the 3.8% NIIT estimate.
Leave as your best estimate. Virginia tax is estimated incrementally.
Broker commissions, transfer taxes, and other selling expenses.
Usually purchase price. For inherited property, use date-of-death value if the step-up applies. For gifted property, use carryover basis.
Major improvements, not routine repairs.
Section 121 is the federal primary residence exclusion: up to $250,000 of gain for single filers or $500,000 for married filing jointly if the ownership and use tests are met. Depreciation after May 6, 1997 generally cannot be excluded.
Use this for partial Section 121 exclusions, nonqualified-use limits, or a farmhouse/home allocation.
Select “Yes” for rental property, investment real estate, farms, home-office depreciation, business-use real estate, farm equipment, or mixed-use sales.
Rental, business, farm building, or home-office depreciation.
Farm equipment, machinery, or other non-real-estate recapture included in the gain.
Only enter an amount if a properly structured exchange defers part of the regular business or investment real estate gain. Do not include equipment recapture here.
Your accountant doesn't need to be local. Fraim CPA works with clients in all 50 states, fully remote.
See how remote tax prep works →Important: This is a simplified 2026 planning estimator. It does not prepare Form 8949, Schedule D, Form 4797, a Virginia nonresident allocation, a 1031 exchange computation, installment-sale reporting, passive activity analysis, AMT, local taxes, debt payoff, or depreciation schedules.
Federal long-term capital gain brackets, ordinary tax brackets, NIIT thresholds, and Virginia income tax rates are hardcoded for 2026. Unrecaptured Section 1250 gain is estimated at 25%, even though actual tax can be lower in some lower-income situations. Results should be reviewed before relying on them.