How much is capital gains tax on a home sale in New York?

It depends on your federal taxable gain after the Section 121 exclusion ($250,000 single / $500,000 married filing jointly if you qualify), plus any New York tax. Example on this page (default inputs): federal tax about $0, NY planning tax about $0 (~6.85% planning (state)).

Does the primary residence exclusion apply in this state?

Yes — the $250k/$500k exclusion is a federal rule (IRC Section 121). It reduces federal taxable gain first. New York generally taxes remaining taxable income/gains under state rules after federal adjustments — confirm with a NY tax pro.

Is depreciation recapture taxed differently at the state level?

Federally, depreciation recapture on rental property is taxed at up to 25%. This calculator applies the New York planning rate to total federal taxable gain (a simplification). Your state return may treat recapture and ordinary income differently.

Where can I calculate federal-only real estate capital gains?

Use the main real estate capital gains tax calculator for a federal-focused estimate, then return here for a New York-specific planning view.

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New York · New York City / Long Island

New York Real Estate Capital Gains Tax Calculator

Estimate federal tax on a New York home or rental sale — plus a NY state planning line (~6.85% planning (state)). Includes Section 121 exclusion and depreciation recapture.

Example (default inputs): federal ~$0 · NY est. ~$0·Updated July 24, 2026

NY Property Sale Tax Estimator

Federal + New York planning estimate

New York state tax

New York taxes capital gains as ordinary income at graduated state rates. NYC residents may also owe local income tax (not modeled here).

Sale Price ($)

Purchase Price ($)

Improvements ($)

Selling Expenses ($)

Depreciation Taken ($)

Rental/investment property only

Purchase Date

Sale Date

Primary Residence?

Years of Ownership

Years Lived In (Last 5 Years)

Must own 2+ years and live in 2+ of last 5 years for exclusion

Filing Status

Taxable Income ($)

Annual taxable income excluding this sale

Capital Gains Tax Results

Total Capital Gain

$120,000

$120,000 excluded (primary residence)

Holding Period

5.5 years

Long-Term

Federal LTCG Rate

N/A

Tax breakdown

Federal capital gains$0

NY state (est.)$0

Total tax$0

Net proceeds (after tax)

$470,000

Notes

•Primary residence exclusion removed $120,000 from taxable gain.
•Improvements of $50,000 increased cost basis and reduced gain.
•Keep records of purchase price, improvements, and selling costs. This tool is an estimate, not a filed return.

New York capital gains snapshot

New York taxes capital gains as ordinary income at graduated state rates. NYC residents may also owe local income tax (not modeled here).

This estimate uses ~6.85% as a mid/high planning rate for NY state tax on taxable gain after the federal exclusion. Confirm NYC local tax separately if you live in the five boroughs.