17290 JASMINE ST STE 104, VICTORVILLE CA 92395 | TEL: 760.241.7204
CIMARRON ESCROW, INC
Planning to sell your home? These resources may help identify taxes that could apply: county-level property, recording, or documentary transfer taxes—contact your county assessor/recorder through the County directory; any applicable California withholding and state tax information; and any applicable Federal capital-gains reporting through the IRS. These links are provided for your information only. Tax rules vary by transaction and location, so consulting a qualified tax professional or attorney is strongly recommended before proceeding.
County Tax Collectors
Alameda
Alpine
Amador
Butte
Calaveras
Colusa
Contra Costa
Del Norte
El Dorado
Fresno
Glenn
Humboldt
Imperial
Inyo
Kern
Kings
Lake
Lassen
Los Angeles
Madera
Marin
Mariposa
Mendocino
Merced
Modoc
Mono
Monterey
Napa
Nevada
Orange
Placer
Plumas
Riverside
Sacramento
San Benito
San Bernardino
San Diego
San Joaquin
San Luis Obispo
San Mateo
Santa Barbara
Santa Clara
Santa Cruz
Shasta
Sierra
Siskiyou
Solano
Sonoma
Stanislaus
Sutter
Tehama
The City and County of San Francisco
Trinity
Tulare
Tuolumne
Ventura
Yolo
Yuba
California State Taxes
California’s Franchise Tax Board generally requires withholding on sales or transfers of California real property unless an exception applies. Form 593, Real Estate Withholding Statement, documents withholding, exemptions, and calculations; Form 593-V remits payment. Regulations are found in California Code of Regulations, Title 18, sections 18662-0 through 18662-8. See the official FTB real estate withholding page and Publication 1016.
Cimarron encourages you to contact a tax professional or accountant with any questions regarding this matter.
Federal Taxes
U.S. federal tax law generally requires reporting the sale of real property when it produces a gain, when the seller receives Form 1099-S, or when the property is business or investment property. Report most capital-asset sales on Form 8949 and Schedule D; report business or rental-property sales generally on Form 4797. A qualifying primary-home sale may exclude up to $250,000 of gain ($500,000 for certain joint filers). A personal-home loss is generally nondeductible.
Official IRS information:
Form 1099-S generally reports gross proceeds, not your taxable gain; gain or loss depends on proceeds minus your adjusted basis and selling expenses. This is general information, not legal or tax advice.
Cimarron encourages you to contact a tax professional or accountant with any questions regarding this matter.