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Exemptions. Some transactions are exempt from Transfer Tax. Some examples would be conveyances between husband and wife, parents and child, grandparent and grandchild, brothers and sisters. A one-time transfer is allowed between former spouses.

For example, let's say you bought your home for $150,000 and you sold it for $200,000. Your profit, $50,000 (the difference between the two prices), is your capital gain – and it's subject to the tax. You only pay the capital gains tax after you sell an asset.

The tax is imposed on both the buyer and the seller at the rate of $. 75 per $100 of the price or consideration for the sale, granting, or transfer.

= $ Single TaxpayerMarried Filing JointlyCapital Gain Tax Rate$0 – $44,625$0 – $89,2500%$44,626 – $200,000$89,251 – $250,00015%$200,001 – $492,300$250,001 – $553,85015%$492,301+$553,851+20% Jan 11, 2023

Capital gains on the sale of a primary residence are protected. There is a $250,000 exemption ($500,000 for a couple), and only gains above this amount are taxable.

The only way to change, add or remove a name on a deed is to have a new deed drawn up. Once a document is recorded, it can not be changed. To show any change in ownership of property, you need to have a new deed drawn up.

New Hampshire does not have state or local capital gains taxes. The Combined Rate accounts for the Federal capital gains rate, the 3.8 percent Surtax on capital gains, and the marginal effect of Pease Limitations on itemized deductions, which increases the tax rate by 1.18 percent.

Determine your realized amount. This is the sale price minus any commissions or fees paid. Subtract your basis (what you paid) from the realized amount (how much you sold it for) to determine the difference. If you sold your assets for more than you paid, you have a capital gain.