sicilygrl8 ditanyakan dalam Business & FinanceRenting & Real Estate · 1 dekade yang lalu

What are the rules about Capital Gain and flipping houses?

Hi. I'm flipping a home and just heard that in 2010 the rules for capital gain were changed stating that we HAD to pay on any home we havne't lived in for at least 2 years. Is this correct?

Perbarui:

We are planning on reinvesting this money within a year!

2 Jawaban

Relevansi
  • 1 dekade yang lalu
    Jawaban Favorit

    If you make short term capital gains then you would have to pay at your regular tax rate. If you held the property more than a year you would pay long term capital gains. If you do multiple deals in a year it is considered a business and you would file a Schedule C and pay self employment tax. If you live in the house as your principle home then the rules are different but that is at least a two year time frame.

    You may need more specific tax advice than can be provided in this forum.

    • Commenter avatarMasuk untuk membalas jawaban
  • 1 dekade yang lalu

    Yes, this is taxed like any short-term (less than 1 year) investment. Same as selling a stock after owning it less than one year.

    • Commenter avatarMasuk untuk membalas jawaban
Masih ada pertanyaan? Dapatkan jawaban Anda dengan bertanya sekarang.