I purchased a small investment property in 2004 The property has always been a rental and I never lived in it. If I sell it today the gain would be about 200k (including 13 years of depreciation). Otherwise, my taxable income is very low and I fall into the 10% income tax bracket, which I read does not get taxed on capitol gains. Is this true in my case? Can I simply sell it and walk away with the windfall tax free?
