Talk of The Villages Florida - View Single Post - Capital Gains Tax on Selling a TV Property and Buying another Property
Thread: Capital Gains Tax on Selling a TV Property and Buying another Property
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Old 12-14-2023, 12:43 PM
melpetezrinski melpetezrinski is offline
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Quote:
Originally Posted by manaboutown View Post
Check with a CPA, especially if you depreciated the property while it was rented and expensed or capitalized various costs.
"IF" you depreciated? Hopefully, the OP did, otherwise, they will be back on TOTV asking why the IRS wants to recapture all the depreciation expense even if they didn't take advantage of this tax saving expense.