# 2 Answers

I could be wrong but my answer would be: It depends.

You might possibly have a gain on the a rental property that you sold for at a loss. For example, if you bought a rental property for $100,000 and subsequently sold it for $90,000, you have just realized a loss of $10,000, right? Not necessarily. You might have to adjust your cost lower than $100,000 if you have depreciated the property by $25,000 over the years. Since you took depreciation of $25,000 over the past few years, your new cost basis would be adjusted to $75,000, or $100,000 - 25,000.

Hence, if you sold the property for $90,000, your taxable gain would be $15,000, or $90,000 sales price minus new cost basis of $75,000.

9 years ago. Rating: 0 | |

### Top contributors in Polls & Surveys category

### Unanswered Questions

Want to Study Abroad

Answers: 0
Views: 6
Rating: 0

How do i check my profile?

Answers: 0
Views: 6
Rating: 0

Want to Study Abroad

Answers: 0
Views: 5
Rating: 0

How do i check my profile?

Answers: 0
Views: 6
Rating: 0

report writing service

> More questions...
Answers: 0
Views: 8
Rating: 0