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re: Thinking of selling our rental property
Posted on 4/11/14 at 9:52 pm to Happygilmore
Posted on 4/11/14 at 9:52 pm to Happygilmore
I think you had better take into account the tax implications of selling the property. You need to know what taxes you may have to pay on the sale due to your basis in the property now that you have taken depreciation expense on the rental. If you have a tax adviser, I would consult with him/her before you do anything.
1
Posted on 4/11/14 at 10:33 pm to simonizer
We lived in the house for 7 years before we borrowed against it to byy our residence now .
We still have quite a bit of equity in it as well.
What would some of the tax implications be?
We still have quite a bit of equity in it as well.
What would some of the tax implications be?
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