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Caleb Webb
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Capital gains question

Caleb Webb
Posted

I have a condo i bought about 8 years ago. I lived in it the first 2 years then had to move for work. I rented it out to a friend and have hardly made any profit after hoa and mortgage. It's worth about $150,000 more than I bought it for. My question is, would I owe the full 20% capital gains tax on that amount?

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