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Investors & landlords
Long Term Capital Gains are calculated not just by the amount of the gain, but also by the amount of Taxable Income on your return.
Here's more detailed info on How Capital Gains are Taxed.
Be sure you included the amount of your Sales Costs.
Original Cost - Depreciation Taken = Cost Basis
Total Proceeds - Cost Basis + Sales Costs = Gain
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‎April 14, 2024
6:59 PM