How much will I pay in capital gain taxes?

[Nat Serrano]

Hello all, my question is pretty basic but I cannot find a good answer online. 

How much will I pay in capital gain taxes?

I have a triplex that I bought for 200k 6 years ago, I refinanced to take cash out and now I owe 350k, I can possibly sell for 500k.

Will I pay capital gains for 300k or 150k(debt is tax free).

taxes: married

Thanks!

[Bruce D. Kowal]

The depreciation recapture rules only apply if you took accelerated depreciation.  If someone does this a lot, you may want to choose straight-line depreciation, and avoid messing with recapture. This is termed §1250 gain.  Initially you will get greater losses from accelerated, to be sure.  Upon recapture, some of that benefit will be taken away.  Maybe somewhere, someone has modeled this, with and without.  Just something else to mess with your head!