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Reply to "how does cap gains tax work for rental properties?"
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[quote=Anonymous]I am going to sell a condo that I have been renting out for about 15 years. My accountant estimated that I was going to owe 30-40k from the recapture of depreciation (I haven't put it on the market yet). My condo was bought for 160 and is now 275 ish. There could be more taxes on the gains. Your sibling needs to look into tax loss harvesting.[/quote]
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