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Quick answer — New York home sale capital gains
Gain = sale price − selling costs − basis. Qualified main homes exclude up to $250k (single) / $500k (married) federally, then federal 0/15/20% LTCG plus 3.8% NIIT when income is high. New York taxes remaining taxable gain as ordinary income (~6.85% planning (state) in this tool). Demo: $650,000 sale → $71,000 taxable → $15,514 total tax ($10,650 federal + $4,864 NY).
Free new york capital gains tax calculator for home, condo, and rental sales — federal brackets, Section 121, depreciation recapture, and a NY planning line locked for New York.
Last updated October 9, 2026 · Not tax advice · All-state hub
Educational estimates for 2026 planning. Confirm withholding, residency, and bracket placement with a CPA or enrolled agent before closing.
Plus your buying closing costs
Additions, roof, remodels
6.0% of price ·
More than 1 = long-term
Of the last 5 years
After deductions, without the sale
State: New York — ~6.85% planning (state)
Only for the cash-to-you figure — it does not change the tax
Estimated tax on this sale
$15,514
4.8% of your $321,000 gain · federal $10,650 · state $4,864
Taxable gain
$71,000
You keep after tax
$595,487
| Sale price − selling costs | $611,000 |
| Adjusted basis | −$290,000 |
| Capital gain (long-term, 12 years) | $321,000 |
| Section 121 exclusion | −$250,000 |
| Taxable gain | $71,000 |
| Long-term gain: $71,000 × 15% | $10,650 |
| State tax: $71,000 × 6.85% | $4,864 |
| Total tax | $15,514 |
Where the $650,000 sale price goes
What this means for you
Estimate for tax year 2026. MAGI for the NIIT is approximated as taxable income + standard deduction + taxable gain. State tax uses a flat planning rate; city taxes (e.g. NYC) are not included. Not tax advice.
Computed with ~6.85% planning (state) on federal taxable gain. Selling costs ~6% where noted in presets.
| Scenario | Gain | Taxable | Federal | NY | Total |
|---|---|---|---|---|---|
Single, main home, 12 yrs Single filer sells a main home bought for $250,000 (plus $40,000 of improvements) for $650,000 after 12 years, with $85,000 of other taxable income. | $321,000 | $71,000 | $10,650 | $4,864 | $15,514 |
NYC, $785k → $2.2M Single NYC owner sells a home bought for $785,000 for $2,200,000 after 20 years, with $44,000 of other taxable income. | $1,283,000 | $1,033,000 | $214,645 | $70,761 | $285,406 |
Bronx, paid $115k → $1M Single Bronx owner sells a home bought for $115,000 for $1,000,000 after 25 years; $70,000 of other taxable income; mortgage paid off. | $825,000 | $575,000 | $108,747 | $39,388 | $148,134 |
Rental with depreciation Married couple sells a rental bought for $300,000 for $450,000 after 8 years; $80,000 of depreciation was claimed; $120,000 of other taxable income. | $183,000 | $183,000 | $36,288 | $12,536 | $48,823 |
Tax is on gain, not sale price. New York taxes capital gains as ordinary income at graduated state rates. NYC residents also owe city income tax (up to 3.876%), which this planning rate does not include.
1. Amount realized
Sale price − selling expenses (commission, title, transfer tax, legal)
2. Adjusted basis
Purchase price + closing costs + improvements − depreciation
3. Gain
Amount realized − adjusted basis
4. Taxable gain
Gain − Section 121 exclusion ($250k / $500k, never covering depreciation)
5. Federal tax
Stack on taxable income: depreciation at ordinary rates ≤ 25%, then 0/15/20% (or ordinary rates if held ≤ 1 year)
6. NIIT + state
3.8% × lesser of taxable gain or MAGI over threshold, plus state rate × taxable gain
New York capital gains snapshot
New York taxes capital gains as ordinary income at graduated state rates. NYC residents also owe city income tax (up to 3.876%), which this planning rate does not include.
This estimate uses ~6.85% as a mid/high planning rate for NY state tax on taxable gain after the federal exclusion. Add NYC tax separately if you live in the five boroughs. Nonresident sellers pay estimated NY tax at closing (Form IT-2663).
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