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Investors & landlords
Q. Must I complete the sale (date of closing) by 10/1/21 to claim a capital gains exemption?
A. Yes. That's how it works. Make it 9/30/21, just to be sure.
You will not have to allocate any of the gain to rental time, but will have to pay tax on the depreciation recapture.
May 19, 2021
5:05 AM