Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago on . Most recent reply
![Ben Cochran's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/157390/1621420059-avatar-beauxman1.jpg?twic=v1/output=image/cover=128x128&v=2)
Help! I just got blown away by my tax bill
Last year I had to sell half of a duplex. I met with my CPA, discussed the details and they estimated the taxes owed would be in the neighborhood of $10k. I just got my returns back and I ended up owning over $30k. My CPA of course now doesn’t remember his estimate of $10k. Other than setting up a payment plan with the IRS, is there anything else I can do to possibly reduce my $30k tax burden?
Most Popular Reply
![Michael Plaks's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/208486/1621433308-avatar-michael_plaks.jpg?twic=v1/output=image/cover=128x128&v=2)
- Tax Accountant / Enrolled Agent
- Houston, TX
- 5,981
- Votes |
- 5,105
- Posts
Quote from @Ben Cochran:
Last year I had to sell half of a duplex. I met with my CPA, discussed the details and they estimated the taxes owed would be in the neighborhood of $10k. I just got my returns back and I ended up owning over $30k. My CPA of course now doesn’t remember his estimate of $10k. Other than setting up a payment plan with the IRS, is there anything else I can do to possibly reduce my $30k tax burden?
Your CPA may have estimated that selling your property generated $10k of additional tax liability, on top of your other taxes. If you owed $20k from your other income, such as being a realtor or a wholesaler for example, then the total changes to $30k. Of if you under-withheld $20k from your W2 job.
Nobody can answer "what can be done" without a review of your actual tax return. Many tax accountants will do it for you if you reach out.