Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago on .
Most recent reply
presented by

Am I taxed on sale price - purchase price? Or appraisal price
I purchased a home for 183k back in Jan this year. It is now worth about 240 with my updates I did.
Lets say it sells for 240.. Am i taxed on the 57k (240-183=57) or I am taxed the difference between the 240 and the appraised value when i bought it? It appraised for 215 at the time. So that would be only a 25k difference.
Please let me know!! Itching to find out.
Thanks!