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https://boards.fool.com/tax-liabilities-on-sale-of-rental-property-31157003.aspx
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| Subject: Tax Liabilities on Sale of Rental Property | Date: 3/8/2014 6:59 PM | |
| Author: LuvtoRead | Number: 120400 of 129789 | |
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I am considering selling a rental property which has been fully depreciated. I bought it for 60K with 10K as land value. It is going to be a tear-down with land value now being around $250K. I am in the 25% marginal rate bracket for 2013. How much capital gain tax that I might expect to pay on April 2015? If I have less income in 2014, say less than 100K, would that affect my capital gain tax on the rental property? Thank you for any assistance from y'all! |
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