Hi all. I'm currently planning on selling my rental and using that money for the down payment on a new condo. From what I understand, to avoid being taxed, I'll need to buy a condo that is equal or greater to the one that I'm selling.
ie If I sell my current rental for $280,000(bought it for $235,000) for a condo that is $260,000 how much would I pay/rate/ etc in taxes.
Any information would be greatly appreciated.
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