Capital Gains - yep it sucks

Well we don't buy a rental property to make a loss.  So, it stands to reason that Capital Gains will be an issue when you sell.  The problem is that years can pass between the buy date and the sell date.

Keeping all the purchase details is essential to making sure you're not paying too much in Capital Gains Tax.  Use the HISTORY icon to record the details for future reference.  The information will always be stored for you.  

And remember that in a purchase and a sale of a property, it's the contract date and not the settlement date that is referenced to determine what year the purchase and sale occurs.  This can be important if you are selling in a low-income year.