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Updated almost 6 years ago,

User Stats

107
Posts
36
Votes
Jason Krawitz
  • Flipper/Rehabber
  • Mount Juliet, TN
36
Votes |
107
Posts

How would this be taxed?

Jason Krawitz
  • Flipper/Rehabber
  • Mount Juliet, TN
Posted

Hello BP folks.

My wife and I bought our first home in 2005 for 131k. In 2014 we moved out of it and it’s been a rental since. If we sell it today for 275k, would we be hit for capital gains and income tax for the difference in purchase price and sale price?

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