Morristown
Registered User
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- 1
Nope - Gain is 50k and you pay tax of 30% on 2/12 of 50k which is about 30% of 8k = 2.4k.buy it for 200K in 2005
live there 2005-2015
rent out 2015-2016
sell it for 250K..... then you have made 50K but - you will pay tax on at 30% CGT on that I believe? - so you pay ~15k tax
Nope - Gain is 50k and you pay tax of 30% on 2/12 of 50k which is about 30% of 8k = 2.4k.
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