What is the cap gains % for sale of invesment property in Florida by resident of New York City?

Asked by Lucy Kirk, New York, NY Fri Mar 30, 2012

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Tim Moore, Agent, Kitty Hawk, NC
Fri Mar 30, 2012
Well, it will depend if it is, or was, your primary residence for 2 of the past 5 years or not and if married or single. It would be better to ask your tax adviser to get a better answer. You will need to know your property basis too.
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