Back Taxes & Capital Gains Question
I have a duplex that I'm weighing putting on the market in the coming months. When I purchased the property it was through an IRS auction & I am wondering if anyone has any insight on if the back taxes that I paid on the "sellers" behalf can be counted against the future capital gains on the sale of the property.
I have never lived in the property, so there are no implications of being owner occupied. I don't have a note on the property & it is primed for a BRRR, but I just don't have the bandwidth at the moment to execute (& keep my wife happy!)
Thank you for the insight, notes and support.
Joe