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Millions of homeowners risk surprise tax bills on sale profits due to capital gains limits that haven’t changed since 1997, despite soaring prices.

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(The Center Square) – Washington state residents who have sold long-term capital assets, such as stocks and bonds, exceeding $1 million will have to pay an increased capital gains tax.

An additional 2.9% on Washington state capital gains exceeding $1 million (totaling 9.9%). Keep in mind that the capital gains tax doesn’t apply to several categories of capital assets, including real ...