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What is Capital Gains on commercial real estate?

Capital gains is a tax that one pays based on the difference between the basis of one property and the sale price of a newer property. The tax rate is based on your filing status and the gain amount, and can either be 0%, 15%, or 20%. https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates#2022-capital-gains-tax-rates-1032099269

*Always talk with your Accountant or Tax Advisor to further understand Capital Gains.

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