• Federal cap gain rate for most taxpayers is 15% but since you rented the property you also have to pay taxes not only on the gain but on the recapture of depreciation. This means you have to add up all the depreciation you took or could have taken over the rental period and pay taxes on that amount in addition to the gain upon sale.

Copyright 2020, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy