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All Forum Posts by: Rizek Housari

Rizek Housari has started 1 posts and replied 1 times.

Post: Depreciation Recapture Tax Rate Section 1250

Rizek HousariPosted
  • Financial Advisor
  • Orem, UT
  • Posts 1
  • Votes 0

I have a rental property that I am thinking of selling soon. I want to determine the tax rate and amount I will pay when I sell it. I have a marginal federal income tax rate of 22%. No 1031 exchange. For example: I paid 150k cash for the property 5 years ago. I have depreciated 30k over the last few years. As I understand it, if I sell it and realize 200k than I have 50k in LTCG at a 15% tax rate and 30k in Sec 1250 recapture. What tax will I be paying on that recapture?