Carl
Level 15

Deductions & credits

You will pay taxes on any gain realized from the sale, If you're selling for the same price you purchased it for, you can expect to pay taxes on the depreciation you were required to take by law, and that's it. With only a year of depreciation, the taxes will be minimal and "may" be offset by rental losses *IF* there are any losses to carry forward. I fully expect you will have carry forward losses. But they will be minimal.