Tax Question: Selling Apartment Complex

[Ryan Agustin]

Hi All,

I have a property in the Columbus, Georgia under a LLC. If I'm looking at $150K gross profit after the sale, how much of it will go to paying taxes?

[Arlan Potter]

how long owned?

What is your basis?

is the $150,000 the gain above original purchase price or Adjusted basis?

If a gain of $150,000 over adjusted basis, and a long term gain, I think the capital gains rate is 23%  on the actual gain plus your tax rate on the depreciation recapture. 30% may be a good number to estimate. see a CPA.