Rental Capital Gain
I live in Massachusetts. Selling a rental property. What percent Capital Gain Will I pay?
I live in Massachusetts. Selling a rental property. What percent Capital Gain Will I pay?
I do not know about your state's tax rate, but the maximum Federal rate is 15% and the rate on your depreciation recapture is 25%.
[addsig]
Do you own in Worcester?
I'm actually thinking of buying a multi in Worcester. I looked at a dozen last year, but ended up buying somewhere else.
I like Worcester for a number of reasons, but mostly because the price is right. It seems like one of the last areas of the state where you can make a profit.
Anyway, my questions are what's your take on the rental market in Worcester and, if you don't mind me asking, why are you selling your rental?
Take care.
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