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Subject:  Tax Liabilities on Sale of Rental Property Date:  3/8/2014  6:59 PM
Author:  LuvtoRead Number:  120400 of 132781

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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