Thanks. I’ve already run the numbers on this and am pretty confident it’ll be about $300k after taxes. We didn’t profit very much on the property because we only owned it for three years and only bought it to rent it out to a daughter. And, yes, I’ve taken depreciation recapture into account. It’s actually the third rental property we’ve owned so I know the drill.OP, you mention completing a sale of a rental netting $300k last week after taxes. Depending on your total income, some or all of this might be taxed at 0, 15 or 20% and will definitely count towards IRMAA unless this had been a home turned into a rental recently. I definitely would recommend using last years tax software to set up a case for this year to see all of the interacting parts.
Statistics: Posted by BigLaw Survivor — Fri Aug 23, 2024 2:32 pm — Replies 22 — Views 1239