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Taxes on Home

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maryjane011

Junior Member
What is the name of your state? New Jersey
We have a 37% remainder interest on a house we may sell. I would like to know what the taxes may be for that part? Does this fall under capital gains tax? This home is a vacation home only, not our primary residence, and has not been a rental. We have not lived in it 2 of the last 5 years. It is striclty a vacation home. Is there a specific tax bracket this falls under? Will we also have to pay state taxes after the sale?
 



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