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Reply to "Depreciation recapture vs. suspended losses on sale of property"
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[quote=Anonymous][quote=Anonymous]I am on a condo board. When rentals sell often cash deals. And weird prices. For instance a unit worth 330k sold for $139,500 cash. What happens is folks take the max amount they can without triggering cap gains. That amount is for title purposes. In the $139,500 case later found seller had other debts. Offer code words furniture for sale is clue. Buyer gets a discount, no realtor fee and often has balls to grieve RE taxes. IRS tries to bust on this [/quote] This makes zero sense and isn’t how the tax laws work. At all.[/quote]
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