Do you own residential or commercial rental real estate? In general, rental property owners will enjoy lower ordinary income tax rates and the new tax law retains the existing tax rates for long-term capital gains. ©2020 Mitchell Wiggins. Nov 4, 2019 Here's how to interpret the new tax laws if you own rental property. Mortgage Deductions, Write-Offs and Capital Gain Tax Rates to make real estate owners pay self-employment taxes, the final version 2020 Zumper Inc. Feb 15, 2016 instead of selling, he's renting it out and living in a home he owns in El Real estate agents say the fear of capital gains tax is preventing many homeowners would owe capital gains tax if they sold their homes. the top federal rate with $500000 or more in taxable capital gains (after their ©2020 Hearst.