capital gains tax

kmb4701 profile photo

I was talking with my realtor this evening.
She told me that there was a cap. gains tax if i sold a property too soon. I thought that you only paid that if you made some extremely large amount of money on the sale of a house.
Does my realtor have a point?
Should there be something in the contract about this?
What types of things should there be in the contract to prevent things like this from happening?

Thanx,

kmb4701 smile

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