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I’m 76 total income rent +social security is$10000 just sold…

Customer Question
I’m 76 total income...

I’m 76 total income rent +social security is$10000 just sold rental after 30 years for profit $400,000 how much tax do I owe

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Do I pay capital gains at what rate or. at all I paid realtor and other fees to sell and do have a good bit of expenses from other rentals that helps and $11,000 social security I did not include in the $10,000.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

How much tax do I owe?

Submitted: 1 month ago.Category: Tax
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3/10/2018
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago
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