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  2. Selling a rental property? Here are the tax consequences - AOL

    www.aol.com/news/selling-rental-property-tax...

    You’re not eligible for the $250,000-per-person home sale profit exclusion, and in addition to paying capital gains tax you also face a depreciation recapture tax of 25%.

  3. As Texas lawmakers tussle over property tax relief, it’s ...

    www.aol.com/texas-lawmakers-tussle-over-property...

    Property taxes make up about 20% of every rent dollar paid by Texas tenants, according to figures provided by the Texas Apartment Association — though that percentage can be higher in the state ...

  4. Loss on sale of residential property - Wikipedia

    en.wikipedia.org/wiki/Loss_on_sale_of...

    To calculate the loss on residential property that was converted into a rental, prior to the sale of the property, Treasury Regulation section 1.165-9(2) states that the basis of the property will be the lesser of either the fair market value at the time of conversion or the adjusted basis determined under Treasury Regulation section 1.1011-1.

  5. Property tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Property_tax_in_the_United...

    The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year. [53] Exemptions can be quite substantial.

  6. Real estate transfer tax - Wikipedia

    en.wikipedia.org/wiki/Real_estate_transfer_tax

    Real estate transfer taxes have become controversial in some U.S. jurisdictions seeking to increase transfer taxes on higher end property sales to help combat issues like homelessness. 2022's Chicago's Bring Chicago Home initiative, seeks to increase transfer taxes on $1 million transactions by 253% or t o 2.65% or $26,500 per million dollar of ...

  7. Taxes 2023: What To Know If You Own an Airbnb or Other Rental ...

    www.aol.com/taxes-2023-know-own-airbnb-140025029...

    Owning an Airbnb or other rental property can be a good investment, especially if the property is located in a prime location. According to one report, the average Airbnb host earned more than ...

  8. Capital gains tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax_in_the...

    States that do not tax income (Alaska, Florida, Nevada, South Dakota, Texas, and Wyoming) do not tax capital gains either, nor do two (New Hampshire and Tennessee) that do or did tax only income from dividends and interest. Washington state does not collect income taxes but has passed a CG tax as an excise (rather than income or property) tax. [17]

  9. Texas property tax cuts are great, but we better make sure ...

    www.aol.com/texas-property-tax-cuts-great...

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