Washington Real Estate Sale: Capital Gains Tax Explained

Washington's own famous capital gains tax makes headlines nationally — and then specifically carves real estate out of its reach entirely. What actually applies is a different tax, on a different thing.

RCW 82.87, 82.45; IRC § 1014

Quick answer: Washington's 7% capital gains excise tax does not apply to a house sale — real estate is specifically exempt. What does apply is the Real Estate Excise Tax (REET), a transfer tax on the price, not the gain. See the full cost picture in the Washington probate real estate sale calculator.

Real estate is exempt, in plain terms from the state itself

Straight from the Department of Revenue: Washington's capital gains tax (RCW 82.87), enacted in 2021 and upheld as a constitutional excise tax by the state supreme court in 2023, applies to long-term gains on assets like stocks, bonds, and business interests. Direct sales of real estate are exempt — this holds whether the seller is an individual or an estate selling on behalf of heirs.

What actually applies instead: REET

Rather than a tax on the gain, Washington charges the Real Estate Excise Tax on the sale price itself — graduated by price tier, generally paid by the seller. It applies regardless of whether the sale produced any gain at all, which is a fundamentally different mechanism than every capital-gains-on-the-profit model used elsewhere.

The federal side is unaffected either way

None of this changes the federal picture. Under IRC § 1014, the house's basis still steps up to fair market value on the date of death, so federal tax applies only to appreciation after that date — Washington simply never takes a state-level cut of that gain, unlike most other states in this cluster.

Not an income tax, and not the same as the state estate tax

The capital gains excise tax is legally distinct from an income tax (which Washington's constitution prohibits) and from Washington's separate state estate tax, which applies to larger estates above their own exemption threshold rather than to any one sale transaction.

Facing probate in Washington?

A local probate attorney can review your estate — many offer a free consultation.

Talk to a Washington attorney

This exemption and REET's structure apply identically whether the sale closes in King, Pierce, Snohomish, or Spokane County — REET does allow some local additions on top of the state portion, which is the one place county matters.

Capital gains tax on the sale — frequently asked questions

Does Washington's 7% capital gains tax apply to a probate house sale?

No. Washington's excise tax on long-term capital gains (RCW 82.87) explicitly exempts direct sales of real estate, whether the seller is an individual or an estate. This exemption is confirmed directly on the Department of Revenue's own site.

What tax does actually apply to a Washington probate house sale?

The Real Estate Excise Tax (REET), a graduated tax on the sale price itself rather than the gain, generally paid by the seller at closing — a completely separate tax from the capital gains excise tax.

Does the stepped-up basis still matter in Washington if the state exempts real estate gains?

Yes, for federal tax purposes. The house's federal basis still resets to its fair market value on the date of death, reducing or eliminating any federally taxable gain — Washington simply never gets a state-level cut of that gain either way.

Is Washington's capital gains tax an income tax?

No — the Washington Supreme Court ruled in 2023 that it's a constitutional excise tax on the sale or exchange of certain capital assets, not a state income tax, which Washington's constitution otherwise prohibits.

Does Washington have an estate or inheritance tax on top of all this?

Washington has its own state estate tax (separate from the capital gains excise tax and from REET) on larger estates above the state's own exemption threshold, but no inheritance tax paid by individual heirs.

This page provides general guidance only and is not legal, tax, or financial advice. Based on RCW 82.87 (capital gains excise tax), RCW 82.45 (REET), and federal Internal Revenue Code § 1014. Confirm current figures with the Department of Revenue, a CPA, or a licensed Washington attorney before acting.