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Investors & landlords
The structure is SEC 1250 property that is depreciated. Gain is based on the adjusted cost basis and is taxed at the capital gains tax rate, and recaptured depreciation is taxed at the ordinary income tax rate.
Land held for more than a year is SEC 1231 property (I think) and all gain is taxed at the capital gains tax rate.
‎April 4, 2022
7:33 PM