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Updated almost 6 years ago,

User Stats

92
Posts
9
Votes
Raza Rizvi
  • Rental Property Investor
  • New York, NY
9
Votes |
92
Posts

Selling a property and confused with capital gains

Raza Rizvi
  • Rental Property Investor
  • New York, NY
Posted

Hello fellow investors. 

I had a question. I am selling an investment property and wanted to understand capital gains correctly. When I purchased the property I put down 25% downpayment of my own money + closing costs. 

Then came closing costs for the sale of the same property along with realtor commission. 

Question is will I pay capital gains on it all or just what is left after all the deductions mentioned above? 

Also wondering what to do with the money - 1031 exchange or take advantage of the new tax law with opportunity zones. 

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