Captiol Gains - Posted by Jim Patterson

import · February 15, 2002, 8:15am

Posted by Jim Patterson on February 15, 2002 at 10:17:55:

Are there any general guide lines on the different rates ?

Thanks for the quick reply.
Jim

import · February 15, 2002, 8:15am

Captiol Gains - Posted by Jim Patterson

Posted by Jim Patterson on February 15, 2002 at 09:15:12:

When selling a rental property that has been depreciated on taxes for the last few years, do you have to pay capitol gains on the depreciation or just the profit ?

Thanks
Jim

import · February 15, 2002, 1:23pm

Captiol Gains rates… - Posted by David Krulac

Posted by David Krulac on February 15, 2002 at 14:23:31:

for most people (there is a lower rate for lower income folks) the long term capital gains rate is 20% and the recapture rate is 25%.

David Krulac
Central Pennsylvania

import · February 15, 2002, 9:12am

Re: Captiol Gains - Posted by phil fernandez

Posted by phil fernandez on February 15, 2002 at 10:12:49:

You will be paying taxes on both the appreciated value and on that amount that has already been depreciated. The appreciated amount will be capitol gains and the depreciated amount is called recapture. The tax rates are different for each one.

Talk to your accountant for the specific rates for your property.

import · February 15, 2002, 1:25pm

Re: Captiol Gains rates… - Posted by Jim Patterson

Posted by Jim Patterson on February 15, 2002 at 14:25:08:

Thank you