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    3. If I sell a property and have to pay capital gains taxes. will I have to pay ordinary taxes on that money on my next tax return?
    If I sell a property and have to pay capital gains taxes. will I have to pay ordinary taxes on that money on my next tax return?

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    0  Views: 758 Answers: 1 Posted: 14 years ago
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      If you sell a property for a profit and do not reinvest the money in another property within a year, you pay capital gains. You do not pay taxes on the money until you don't use the money to purchase another property.
      14 years ago. Rating: 0
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