When you sell an investment property, you could potentially get a hefty tax bill -- even if you didn't make a big profit. In addition to capital gains taxes on a profitable sale, you may also have to pay back any depreciation benefits you received while you owned the property. However, there is a way to avoid paying these taxes for as long as you want, as long as you keep investing your money in real estate. Here's a rundown of the taxes you might have to pay when you sell an investment property, when they're due, and how you could avoid paying them -- at least for a while.
The Basics of Paying Taxes On An Investment Property
How Are Rental Properties Taxed?
There are a number of deductions landlords can take to reduce their tax liability.
Taxes on Selling a House: What All Homeowners Should Know
You may have heard of capital gains before, or the profits from a sale of an asset. But, does this tax apply when selling a house?