All numbers are rounded and most of these assumptions are a little high so your actual numbers would be less.So here it goes:Annual depreciation = 240,000 / 27.5 years = 8,700Depreciation recapture = 8,700 x 6 = 52,000Adjusted cost basis = 240,000 - 52,000 = 188,000Realized gain = 380,000 - 188,000 = 192,000Long term capital gains = 192,000 - 52,000 = 140,000Long term capital gains tax = 140,000 x 0.15 = 21,000Depreciation recapture taxes (taxed at normal tax bracket) = 52,000 x 0.24 = 12,500Total Tax due to Uncle Sam = 33,500Actual Gain = 380,000 - 170,000 = 210,000 - 30,000 (closing costs) - 33,500 (taxes) = 146,500That's a bummer if you were expecting 210,000 to be able to re-invest. 

Originally posted by @Sam Grooms:@Josh Oaten, I'll second what @Brian Ploszay said.

@Sam WichitaNo.  

Just do the damn thing you can thank me later :) Good Luck - Sam

Hey Javier,I have been working with Sam Steadman as my realtor for a while now and he has been great to work with.

Sam Guarnieri Thanks!!

@Sam Shueh   Yes, lenders have the first place on the notes..

Sam & Heather Jones is 100% correct, fixing your credit will be invaluable.

@Sam Albert Good idea, I'll have to make sure my contractors are tracking.

Sam C.