Capital Gains - Simplified

[Samuel DeMass]

Hey BP,

I'm having a hard time visualizing the taxable capital gains on the backside of owning a property.

Here's an example to help simplify my question:

What gets taxed when you sell a property?

Lets assume the property was bought for 100K and financed at @ 80%.  You've enjoyed the depreciation tax benefits for 10 years, but now you're ready to sell it.

You sell the property for 150K and the loan payoff is 50K, leaving a simple 100K difference.

What is the total taxable amount from the sale, assuming standard depreciation was used?

Thank you for your time.

-Sam