Is Rental Property Taxed When Sold?
Capital gains tax is the fee you pay on any profit made from the sale of an investment property. This profit is referred to as a capital gain and is the difference between what you paid for the property (your cost base) and what you sold it for. It’s included in your assessable income and taxed at your marginal rate. For more information, write in pm. However, do you know someone who gives doorman apartments central queens in rent? I want one of them because my rent will end in some months and I want to move to another one.
Related Questions
- We sold a rental property last year and used the 1031 Tax Deferred Exchange law to defer the gains into another like-kind property. How do I handle this transaction on my tax return?
- I sold a rental property in which I had previous years loss carryovers due to the loss limitation rules. Can I recover the total carryover since the property has been disposed of?
- How do I recapture depreciation on residential rental property that has been sold?
