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All Forum Posts by: Kristi Hill

Kristi Hill has started 1 posts and replied 1 times.

I bought a property for a friend in 2005. She rented if at cost of the mortgage payment due and I made no money off of her. She moved out in March and we have had to do extensive work to get it ready to sell. It will likely be at about a $60,000 gain when finally sold. How does taxation  work on a rental property?