Hamptons · Calculator

Hamptons Capital Gains Tax Calculator

The tax on selling a South Fork house, and what you keep. Most Hamptons houses are second homes, so the gain is usually taxed in full: federal, the 3.8% investment income tax, New York, and New York City for a city resident.

The sale

Sale price

Broker commission %

Mortgage to pay off

Does not change the tax; only the cash you keep.

What you paid

Purchase price

Years owned

More than one year is long-term.

Purchase closing costs

Peconic Bay CPF tax, mansion tax, title, attorney, survey. Not the mortgage recording tax or lender fees.

Capital improvements

Additions, a pool, a new roof, an I/A septic system, kitchen and bath renovations. Not repairs or upkeep.

Depreciation taken while it was rented

From your returns (Schedule E). Zero if you never rented it beyond 14 days a year.

It was my main home for 2 of the last 5 years

Your taxes

Household income this year, before the sale

Filing status

State you live in

I live in New York City

The answer

About $887,561 of tax on a $2,321,600 gain, 38.2% of it.

You keep about $4,784,039 after selling costs, tax.

The gain

Sale price	$6,000,000
NY State transfer tax	−$24,000
Broker commission	−$300,000
Attorney fees	−$4,000
Recording fees + miscellaneous closing items	−$400
Amount realized	$5,671,600
Purchase price, closing costs, improvements	−$3,350,000
Gain	$2,321,600

The tax

Federal long-term capital gains (0 / 15 / 20%)	$464,320
Net investment income tax (3.8%)	$88,221
New York, as your home state	$245,035
New York City resident tax	$89,985
Total tax	$887,561

The gain is stacked on top of your income for the year, so it is taxed at your top rates. East End seller costs, line by line: seller closing-cost calculator.

The full breakdown

See every line item.

Simplified: 2025 federal and state brackets on this year’s income; no other gains or losses; no installment sale or 1031 exchange; a §121 exclusion is applied in full (time the house was not your main home after 2008 can reduce it). Confirm with your accountant before you price or sign.

Talk to Corey about selling in the Hamptons

Prefer to speak directly? Schedule a consultation →

Corey Cohen, Licensed Associate Real Estate Broker · The Roebling Team at Compass
646.939.7375 · c.cohen@compass.com

What is different about a Hamptons sale

Selling costs are lower than in Manhattan: New York State transfer tax is a flat 0.4% outside the city, with no city transfer tax and no 0.25% additional tax at $3M or more. The buyer, not the seller, pays the Peconic Bay CPF tax.
A city resident pays New York City income tax on the gain even though the house is outside the city.
A seller who lives outside New York still owes New York tax on the gain, and pays an estimate when the deed is recorded (Form IT-2663: the gain at 10.9%), credited on the New York nonresident return. The home state generally credits the New York tax.
The primary-residence exclusion ($250,000, or $500,000 married filing jointly) needs the house to have been your main home for two of the last five years; a summer house rarely qualifies.
A house rented for the season has usually been depreciated. That depreciation lowers the basis and is taxed at the sale at up to 25% federally, and no exclusion covers it.

Related tools

Hamptons seller closing costs: transfer tax, commission, attorney.
Sell or rent out: sell now, or rent the seasons and sell later.
Hamptons rent vs buy: a summer rental against owning.
New York City capital gains: for an apartment in the city.