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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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I refinanced my house, which is now rented. My current mortgage

Customer Question

I refinanced my house, which is now rented. My current mortgage is about $450,000. If I sell my house for $900,000, about how much would I owe on capitol gain? Is there any advantage to deferring any of payment?
Submitted: 8 months ago.
Category: Tax
Expert:  Stephen G. replied 8 months ago.
When did you purchase the house and how much did you pay for it?How long did you live in it as your primary residence?How long has it been rented?Are you married or single?What state is the home in and what state are you a residence of?