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Updated over 7 years ago on . Most recent reply

User Stats

22
Posts
3
Votes
Steve Swanson
  • Investor
  • Kansas city, MO
3
Votes |
22
Posts

0% Cap gains on sale of long term rental?

Steve Swanson
  • Investor
  • Kansas city, MO
Posted

I'm curious what the capital gains will be on a rental that I have held for 2+ years. I am married filing jointly & will have gross income for 2017 between 90-100k, but with 401k and IRA contributions could get the AGI down below 60-70k. I think if I can have AGI in the 15% tax bracket, my capital gains tax on the sale of this rental would be 0%. I'm curious if anyone has done this, and knows if my thinking is correct? I'd prefer to just sell & not have to go thru a 1031 exchange because the market is so hot in my area.

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