Florida-Tax on Condo Rental Sale

[northendgolfer]

We are looking at buying a condo in Florida and we are non-residents. We are looking at something under 250k. We would like to rent it out and use it some of the time. What are the tax implications when we sell the property? How much tax are we charged? Can we write off any expenses incurred during the sale against that tax?

 

[FlyingRon]

No need to ask twice. This has been answered in your other thread: https://forum.freeadvice.com/threads/florida-tax-on-real-estate.657452/

 

[LdiJ]

We are looking at buying a condo in Florida and we are non-residents. We are looking at something under 250k. We would like to rent it out and use it some of the time. What are the tax implications when we sell the property? How much tax are we charged? Can we write off any expenses incurred during the sale against that tax?

You will be taxed like you would be taxed for any rental property. You will pay capital gains tax on your capital gain and will recapture depreciation at ordinary income tax rates. That will be for federal taxes. Florida doesn't have state income tax.