Taxation of Quick Sales of Real Estate Investments It is important to understand Capital Gains Tax Capital Gains Tax FAQ 1. What is a capital gain? A capital gain occurs when you sell an asset for a higher price than its original purchase price (also known as its basis). This applies to various assets, including […]

Rental Property Taxation FAQ 1. How is rental income taxed? Rental income is taxed as ordinary income based on your IRS tax bracket. For instance, if your rental income is $10,000 and you fall within the 22% tax bracket, you’ll owe $2,200 in taxes on that income. 2. What deductions can I claim for a […]