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Updated almost 6 years ago,
Selling a property and confused with capital gains
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.