topic I own condo in Arizona. Investor owns 80%. He is forcing, remining 20% ( Me) of the condo owners to sell to him. Do I need to pay capital gain on profit? Law: 13-1228 in Get your taxes done using TurboTax

I own condo in Arizona. Investor owns 80%. He is forcing, remining 20% ( Me) of the condo owners to sell to him. Do I need to pay capital gain on profit? Law: 13-1228

40wonderfulyears — Tue, 10 Mar 2026 05:31:00 GMT

There is a law in Arizona. If developer buys 80 of condos, he can force remaining 20% owners to sell to him. I am part of 20% owner. Do I need to pay capital gain on the profit? Because it is a forced sell? Arizona Law for condominium association: 33-1228

Re: I own condo in Arizona. Investor owns 80%. He is forcing, remining 20% ( Me) of the condo owners to sell to him. Do I need to pay capital gain on profit? Law: 13-1228

Critter-3 — Sat, 23 Jul 2022 14:32:35 GMT

This is not a government imminent domain forced sale so YES you will report the sale and if you have a taxable gain you will pay taxes on it just like any other sale.

Re: I own condo in Arizona. Investor owns 80%. He is forcing, remining 20% ( Me) of the condo owners to sell to him. Do I need to pay capital gain on profit? Law: 13-1228

Hal_Al — Sat, 23 Jul 2022 14:52:01 GMT

Q. Do I need to pay capital gain on the profit, because it is a forced sell?

A. Yes. State law is irrelevant for federal income tax.

If the condo was your principal residence, you are probably eligible for the home sale exclusion, even if you don't meet the 2 year rule (you have "unforeseeable circumstances").