Taxes needs to be paid if sell property

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  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    1y

    An investment property like a LTR or vacation rental? Well  - if you buy another similar rental property within 180 days, then you pay no taxes. If you choose to (or can't) buy another property, then you pay a tax on the gain that you have made. It's a little complicated so I would contact a CPA, or at least look it up online to guessimate how much you might have to pay.

    Now if this is your personal residence, it's all different....

  • Member since 2022 · 1k+ posts · 1k+ votes
    1y

    it depends. If it's an investment property with a significant gain, expect 23.8%

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