Florida Tax Guide: What Retirees Will Have to Pay (and What They Won’t)

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What about investment income?

Capital gains refer to the profits earned from the sale of capital assets such as bonds, stocks, and real estate. Capital gain taxes are, therefore, what you pay on those profits. It’s worth mentioning that this tax is triggered only when you sell your asset, so you don’t have to worry about paying taxes as long as you own the property.

There’s no capital gains tax in Florida, but you still have to pay federal taxes if you sell a house in the state. The exact tax rate you’re subject to depends on several factors, including your income level and how long you’ve owned the property.

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