to qualify for capital gains you must hold for two years . If you live there two years you are tax free.
I rehab and sell takes 60-90 days. That is income tax just like any product to be warhoused and resold. Income tax is rule of thumb 30% of the profit. Cap gains is20%. Everything is 100% deductable with income tax that is needed to complete and sell the product, n this case homes
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to qualify for capital gains you must hold for two years . If you live there two years you are tax free.
I rehab and sell takes 60-90 days. That is income tax just like any product to be warhoused and resold. Income tax is rule of thumb 30% of the profit. Cap gains is20%. Everything is 100% deductable with income tax that is needed to complete and sell the product, n this case homes