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Reply to "how does cap gains tax work for rental properties?"
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[quote=Anonymous]folks, i have a sibling who owns a couple of houses in NoVa as rentals. each worth about 1.5m. if she decides to sell these, what is her capital gain tax burden? she was asking me but i had no idea. yes, she will reach out to her CPA (eventually). owned more a few years (like 10?), and for the sake of argument let's assume she purchased each property at 700k. TIA[/quote]
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