NYC Real Estate Capital Gains Tax Calculator
Selling a NYC condo, co-op, or investment property? This calculator walks through the full picture: your adjusted basis, the primary residence exclusion if you qualify, federal capital gains tax, the Net Investment Income Tax surtax, combined NY State & City tax, and depreciation recapture if this was a rental. Enter your own tax rates below — federal, state, and city brackets shift by income and by year, so a hardcoded table would be less accurate than your own numbers.
Want your full seller closing costs and net proceeds, not just the tax? See our Net Proceeds Calculator, or all our calculators.
Glossary
What you actually paid for the property, for tax purposes: your purchase price, plus closing costs you paid as the buyer, plus capital improvements (renovations that add value or extend life — not routine repairs), minus any depreciation you claimed on the property. A higher basis means a smaller taxable gain.
If you owned and lived in the property as your main home for at least 2 of the 5 years before the sale, you can exclude up to $250,000 of gain ($500,000 if married filing jointly) from capital gains tax entirely. This doesn’t apply to investment or rental properties, and doesn’t cover depreciation recapture even on a home that was partly rented.
A 3.8% federal surtax on investment income, including real estate gains, for higher earners. It applies to the smaller of your taxable gain or the amount by which your income (including the gain) exceeds $200,000 (single), $250,000 (married filing jointly), or $125,000 (married filing separately) — not simply 3.8% of the whole gain regardless of income.
If you claimed depreciation deductions against rental income, the IRS “recaptures” that benefit when you sell — taxed at up to 25% federally, separately from your regular capital gains rate, and carved out of the gain before any primary residence exclusion is applied.
Federal long-term capital gains rates run 0% to 20% depending on your income, NY State marginal rates run roughly 4% to 10.9%, and NYC adds another 3.078% to 3.876% — all bracket-dependent and subject to change. Rather than bake in a bracket table that could go stale, this calculator asks for your combined rate directly. Your accountant can confirm your exact marginal rate.