Estimates only — this is not tax advice. Consult a CPA or enrolled agent before acting on these figures. The calculator does not model the alternative minimum tax, wash sales, like-kind exchanges, QSBS, installment sales, or state additions and subtractions. See what is out of scope.
Show your work — 0 steps, each with its rule and citation
How Florida taxes a capital gain
Statutory authority: Fla. Const. art. VII, § 5(a)
Florida has no capital gains tax
Florida levies no individual income tax, and capital gains are a form of income, so there is nothing for the state to tax. Your Florida bill on any gain is zero.
As in Texas, the prohibition is constitutional rather than merely legislative. Article VII, Section 5(a) of the Florida Constitution bars the state from levying a personal income tax without a constitutional amendment. That is a meaningfully stronger guarantee than a low statutory rate, which a legislature can raise in a single session.
The federal bill is the whole bill
Long-term gains at 0/15/20%, short-term gains at ordinary rates up to 37%, and the 3.8% net investment income tax above $200,000 of modified AGI single or $250,000 joint. None of that changes because you live in Florida.
For Florida in particular, the Section 121 home-sale exclusion tends to matter more than average, given how much of the state's wealth sits in appreciated residential property. The exclusion covers $250,000 of gain single or $500,000 joint, but two things reduce it that catch sellers out: depreciation claimed while the property was rented can never be excluded, and periods of non-qualifying use after 2008 are allocated out of the exclusion.
Documentary stamp tax is not a capital gains tax
Florida charges documentary stamp tax on deeds when real property changes hands. It is a transfer tax assessed on the consideration paid, not on your profit, and it is owed even if you sell at a loss.
That distinction matters when you compare the true cost of selling property in Florida against a state that taxes the gain itself. A documentary stamp charge is a transaction cost; a capital gains tax scales with how well the investment did. This calculator models the latter and not the former.
Residency, and the states that will check it
Florida is a common destination for people relocating specifically to realise a large gain, which means departure states scrutinise those moves. Establishing Florida residency is a question of fact — domicile, days present, where your life actually is — not simply of address.
This calculator assumes you were a full-year resident of the state you select. If you moved during the year, or if the gain relates to real property located in another state, the state answer here will not be right, because sourcing and part-year rules take over.
Where the federal bill still bites hardest in Florida
With no state layer, every planning decision available to a Florida resident is a federal one — which makes the federal levers unusually worth pulling. The holding-period line is the largest: moving a sale past the one-year mark can take the rate on an entire gain from 37% to 20% or lower, and it costs nothing but patience.
The 3.8% net investment income tax is the second. Its thresholds are statutory and have not been adjusted for inflation since 2013, so an income that felt comfortably clear of them a decade ago may not be now. Because the tax applies to the lesser of your net investment income and your excess over the threshold, keeping modified adjusted gross income just below the line can remove it entirely — and modified AGI is measured before your deduction, so the lever is the timing of income rather than the size of your deductions.
A worked Florida example
Every figure below is computed by the same engine that powers the calculator above, at the moment this page was built — not typed in by hand. When the tax-year data is updated, this example updates with it.
Selling a rental property with $150,000 of depreciation claimed
A married Florida couple sells a rental for $700,000 against an adjusted basis of $500,000, having claimed $150,000 of depreciation over the years. Their other income is $180,000.
- Taxable income after deduction
- $347,800
- Taxable gain
- $200,000
- Tax owed without the sale
- $21,940
- Tax the sale added
- $47,168
- of which net investment income tax
- $4,940
- Total federal tax
- $69,108
- Florida state tax
- $0
- Effective rate on the gain
- 23.58%
Florida takes nothing, but the depreciation does not escape: $150,000 of the $200,000 gain is unrecaptured Section 1250 gain, taxed above the ordinary income rather than at the friendlier long-term rates.
Caveats on this example (1)
- Net investment income was derived from capital gains and qualified dividends only. Interest, non-qualified dividends, rents, royalties and passive business income inside ordinaryIncome are also net investment income under IRC 1411(c) and are not counted here.
Show the working — 19 steps, each with its citation
- Gain on sale of depreciable real property$200,000
$700,000 amount realized less $500,000 adjusted basis, which is already net of depreciation taken.
- Depreciation allowed or allowable$150,000
Straight-line depreciation taken over the holding period. "Allowed or allowable" means depreciation the taxpayer could have claimed counts even if it was not claimed.
- Unrecaptured Section 1250 gain$150,000
The lesser of $150,000 of depreciation and $200,000 of total gain. Taxed at up to 25%.
- Remaining long-term gain above depreciation$50,000
Appreciation beyond the depreciation taken, eligible for the 0/15/20% rates.
- Net short-term capital gain or loss for the year$0
Assets held one year or less. Taxed at ordinary rates if a net gain.
- Net long-term capital gain or loss for the year$200,000
Assets held more than one year. Eligible for the 0/15/20% rates.
- Standard deduction-$32,200
Adjusted gross income of $380,000 less $32,200.
- Taxable income$347,800
The figure the rate tables and the capital gain ceilings are both measured against.
- Ordinary income taxed at 10%$2,480
$24,800 of taxable income between $0 and $24,800.
- Ordinary income taxed at 12%$9,120
$76,000 of taxable income between $24,800 and $100,800.
- Ordinary income taxed at 22%$10,340
$47,000 of taxable income between $100,800 and $147,800.
- Unrecaptured Section 1250 gain taxed at 22%$13,992
$63,600 at the 22% ordinary rate, which is below the 25% maximum.
- Unrecaptured Section 1250 gain taxed at 24%$20,736
$86,400 at the 24% ordinary rate, which is below the 25% maximum.
- Ordinary income stacked below the long-term gain$297,800
Long-term gain is taxed by reference to where it sits ON TOP of $297,800 of other taxable income, not from the bottom of the rate table.
- Long-term gain taxed at 15%$7,500
Gain between the $98,900 zero-rate ceiling and the $613,700 15% ceiling.
- Net investment income tax threshold$250,000
Modified AGI of $380,000 against the $250,000 threshold for married filing jointly. This threshold is statutory and is not adjusted for inflation.
- Net investment income tax at 3.8%$4,940
3.8% of $130,000, the lesser of net investment income ($200,000) and the amount by which modified AGI exceeds the threshold ($130,000). Here the binding figure is the excess of modified AGI over the threshold.
- Florida does not tax capital gains$0
Florida levies no individual income tax, so capital gains are not taxed at the state level.
- Total tax$69,108
$69,108 on $380,000 of total income, an effective rate of 18.19%.
What this calculator does not cover for Florida
Because Florida levies no individual income tax, there is no state calculation to get wrong — the figure is zero regardless of your income or the size of the gain. Everything below the state line is federal.
Full-year residency is assumed throughout. Part-year residents, non-residents, and gains sourced to property in another state all turn on rules this calculator does not model. The complete list of what is in and out of scope is on the methodology page.
Other states
- TexasNo individual income tax. Federal tax still applies in full.
- New YorkOrdinary income, nine brackets to 10.9%. NYC and Yonkers add their own.
- CaliforniaTaxed as ordinary income, nine brackets, plus a 1% surcharge over $1m.
See the full 2026 capital gains guide for the federal rules that apply wherever you live — the rate ladder, the net investment income tax, the home-sale exclusion and depreciation recapture — plus every state we currently cover.