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Reply to "how does cap gains tax work for rental properties?"
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[quote=Anonymous]There are several online capital gains calculators that are easy to use. Kind of surprising that she didn't spend 5 minutes running the numbers. The only number you need that might be somewhat difficult to figure out is how much depreciation taken since purchase. Just to give you an idea of a 350k house that I'm about to sell. It's almost paid off and this is what the calculator says: 15k fed depreciation recapture 15k VA cap gains 30k fed cap gains So total taxes equals approx 16% of sales price. [/quote]
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