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Investors & landlords
@dclive wrote:If my home goes from $250k in 2010 to $345k-ish in 2022, isn't that 95k in gains.....
The figures you stated in the quote above do not include accumulated depreciation.
Assuming you used $250k as your basis (roughly) and had around $73k in accumulated depreciation, then your adjusted basis would be $250k less $73k or, very roughly, $177k. If you subtract $177k from $345k you wind up with $168k in gain and then subtract out your expenses of sale.
‎January 21, 2023
1:28 PM
1,719 Views