when buy/sell a house - do you pay all real estate taxes
If youâve depreciated the property, you might pay a different rate. For example, if you buy a rental house at $300,000, take depreciation deductions of $100,000 over the years, and then sell it for $320,000, your gain for taxes is $120,000.But you pay at a 25 percent rate on the first $100,000.eal estate agent Shelley Bridge vividly recalls how a love affair once cost a young man more than $20,000 in federal taxes. The man, with Bridgeâs help, had previously bought a house for around $200,000. Having fallen in love several years later, he moved in with his girlfriend and put his house up for rent.