how much state and federal taxes i need to pay if i sold an investment property that i held for one year?

Answer 1

I donno.

Depends on your tax situation and how much you made for the whole year and how much you made for that transaction and whether you held it for a year exactly, or a year and more than a day more....

Overall, probably not more than 50% in total taxes.

WealthBuilder

Answer 2

It better be for a year and one day. Then any capital gains would be long-term and taxed at a lower rate (5% or 15%).

The tax treatment of your gain depends on how the property was acquired, how it was used, exactly how it is disposed of, and what tax deductions were already applied to the property.

The federal tax rates on individual income can go as high as 35%.