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Updated over 5 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Joe Sampson
  • Real Estate Investor
  • La Crosse, WI
1
Votes |
9
Posts

Back Taxes & Capital Gains Question

Joe Sampson
  • Real Estate Investor
  • La Crosse, WI
Posted

I have a duplex that I'm weighing putting on the market in the coming months.  When I purchased the property it was through an IRS auction & I am wondering if anyone has any insight on if the back taxes that I paid on the "sellers" behalf can be counted against the future capital gains on the sale of the property.

I have never lived in the property, so there are no implications of being owner occupied. I don't have a note on the property & it is primed for a BRRR, but I just don't have the bandwidth at the moment to execute (& keep my wife happy!)

Thank you for the insight, notes and support.

Joe

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