CG tax on selling for same purchase price?

[John T.]

Are there any capital gains taxes (or any taxes) for selling a property at the same price at which it was originally purchased? My common sense says no, but I could be wrong. Any insight is greatly appreciated.

[Paul Allen]

If the property was allowed to be depreciated during the period of ownership, then you may have a gain based on the recapturing of the depreciation. Otherwise I can't think of any reason you'd have an adjusted basis that would create a capital gain on the sale.