Calculating Taxes on the Sale of Rental Property in California: How to Minimize the Total Cost of Selling
When you’re a California landlord selling rental property, capital gains taxes are one of the many costs that might keep you up at night. Of course, you’ll also have to get the property ready for sale—even minor repairs can add up to a pretty penny. Plus, you can expect to pay a real estate agent and California commission rates are sky high compared to other states. The expenses of selling just keep adding up. Isn’t there a better way, one that will leave a little more cash in your pocket? If you understand how taxes on the sale of a rental property in California are calculated, you can make a more informed decision about how to go about selling it—and keeping costs down.