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What would be the federal and state tax (CA) obligations if I sell a rental property?
I am not a California resident and I am planning to sell a small house located in California. The house is not my primary residence and I always include it as a rental property on my state tax returns.
Because its not your primary residence selling your rental is considered capital gains and subject to Federal tax.
California will take a chunk too, but how much would depend on the value of the property.
FOR SALE Cozy rental cottage or home 75' on Canal lake in Kawartha Lakes NE of Orillia $449000
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