Long-Term Gain


A

a12vman

I am about to sell a rental property that I purchased and rehabbed in 2005.

Here are the specifics:

Orig Basis(Purchase + Improvements Less Land) From 2005 $30,864.00

Cost Basis(Includes Recapture from '05/'06/'07 + Selling Costs)
$28,185.00
Selling Price
$47,500.00

Gain = $19,315

Can anyone tell me how much of a Long-Term Gain I will have on this sale?

1040 AGI for this year is $86K, Taxable Income is $59K

Thanks in Advance,
-a12vman
 
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