I have a 25 percent share in a property in Mass which is not my primary residence nor a rental. It is on the market now.

Additional Information:

What are the tax implications when it sells? Thanks in Haverhill, MA


Assuming you have owned the property for over one year, and given that you own a 25% interest in income property, you would have to pay capital gains tax on the difference between your net gain(after capital improvements, costs of sale i.e. broker’s commisssion)–the current applicable Massachusetts capital gains tax is five percent (5%).

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