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Updated over 4 years ago,
Capital gains on rental property sale
We are looking at selling our rental property.
The home was our primary for 10 years before moving to our current home 3 years ago. We decided to keep the house as a rental property but feel like its time to cash out.
Question is if we sell the home now will I have to pay capital gains or any other taxes?
Bought in 2007, lived in until 2017
Bought original: 134,900
Current valuation: 251,000
Owed: 68,000
Thanks