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When is capital gains payable?

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  • This topic has 2 replies, 2 voices, and was last updated 1 month ago by JaySang.
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  • #531
    JaySang
    Participant
    This may be a dumb question. I’ve always been into the buy hold strategy and we have 3 properties right now but looking to sell 1 since the market is good and we have another strategy in mind.
    When you sell, when is capital gains tax payable? Do you pay at sale or at tax time?
    #540
    R.D.
    Keymaster

    Hi Jay,

    You pay your capital gains tax with your tax return. I believe its based off the date the contract is signed.

    • This reply was modified 1 month, 1 week ago by R.D..
    #555
    JaySang
    Participant

    Great thanks for that

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