I assume it’s not the 2mil but rather the 500k triggering cap gains since these varennas were about 1.5 new

Quote from: USCTrojanCPA on May 13, 2022, 04:55:51 PM

Quote from: mythicquest on May 13, 2022, 01:59:16 PM

Wow 5 months free?? Ok you win all the awards. Congrats on the sale

Well the price was initially $2.06m with a $6k per month rent back but since the seller would pay capital gains tax above a $2m sales price it only made sense to reduce the price by $30k in exchange for a free rent back.  Seller pays less in long term capital gain taxes and buyer pays less in property taxes, a true win-win situation.

Curious, what changes with capital gains tax above the $2M sales price?