This piece came to us from Leonard Spoto at Asset Exchange Company. We thought it was clear and helpful so here it is.
Many property owners are familiar with the “Terrible T’s” in real estate: termites, tenants and trash. Often the “Terrible T’s” become so burdensome that investors decide they want out of real estate altogether. At that point however, investors become all too familiar with another “Terrible T” - Taxes! In the state of California, property owners who decide to sell an investment property are subject to the following taxes on gain:
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