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Capital Gains on Rental properties

Peter Russell CPA, CA displays (and outlines) the necessary calculations for income taxes, where a property is disposed.

 

In addition, upon a taxpayer’s death, there is a deemed disposition of property, including principal residence, however  the rules outlined in this video apply to both rental properties or second properties. With respect to the principal residence, a reporting is necessary (since 2016), however,  no tax results from the period of time the property was a principal residence.