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Updated about 7 years ago on . Most recent reply

Marc Beaulieu's profile image
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Marc Beaulieu
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  • from Lincoln, Rhode Island
  • Member since Jan 9, 2016
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Marc Beaulieu's profile image
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Marc Beaulieu
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  • from Lincoln, Rhode Island
  • Member since Jan 9, 2016
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Marc Beaulieu
  • Investor
  • Lincoln, RI
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Foreclosures

Approximate taxes paid on sale of investment property

Marc Beaulieu
  • Investor
  • Lincoln, RI
Posted
I am trying to calculate the taxes I would have to pay on a house. I bought the house 11 years ago for 370,000 have an offer for 350,000 and owe 285,000 on the house. I lived in the house for ten years and recently purchased another house to live in.
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Caleb Heimsoth
  • Rental Property Investor
  • from Durham, NC
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Caleb Heimsoth
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  • from Durham, NC
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
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If you paid 370 and sell for 350 your tax is zero since there ya no gain. Technically that’s a loss

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