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Capital Gains Tax Calculation Quiz
5 Questions
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Capital Gains Tax Calculation Quiz

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@IndividualizedHydra

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Questions and Answers

What is the total amount the married couple sold their home for this year?

  • $550,000
  • $500,000
  • $950,000 (correct)
  • $400,000

    • How much of the money from selling their home will the married couple be required to pay capital gains tax on?

  • $300,000
  • $50,000
  • $550,000 (correct)
  • $950,000

    • What type of listing provides a commission to the broker ONLY if the sale is successful?

  • Open (correct)
  • Net
  • Exclusive right-to-sell
  • Exclusive agency

    • Which entity provides flood insurance to homeowners?

    <p>The National Flood Insurance Program (NFIP)</p> Signup and view all the answers

    What is the capital gains tax exemption amount for a married couple in this scenario?

    <p>$500,000</p> Signup and view all the answers

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