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Tax, SDIRAs & Cost Segregation

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Nav S.
  • Everett, MA
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Question on capital gains tax on multi-family sale

Nav S.
  • Everett, MA
Posted Feb 27 2018, 13:46

Hello :

I have a 2 family property near Boston, MA that I would like to sell.

I was using 1 unit as primary residence for just over 2 years before I had to relocate in mid 2016.

Currently both units are rented out and hence it is considered an investment property. I am in the 25% Fed tax bracket

Will there be capital gain taxes at both Fed and state level?

Any suggestions on how to lessen the tax impact?

Ideally I would like to use the profit to pay off some of my principal on current primary residence mortgage and use the rest for investing in a townhome that I can rent out...

Thank you for your inputs!

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