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Updated almost 3 years ago on . Most recent reply

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Cedrick Givens
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36
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Tax question for next year

Cedrick Givens
Posted

If the rehab on an investment property took several years, what is considered the capital gains when I sell (in GA)?
 
Ex : Bought for 5k, invested 90k(2019-22)... sold 100k(2022-23)

Most Popular Reply

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2,176
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Joe Homs
  • Flipper
  • Mission Viejo, CA
1,116
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2,176
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Joe Homs
  • Flipper
  • Mission Viejo, CA
Replied

@Cedrick Givens not positive what you are asking, but first answer is long term capital gains.  Next answer is you would only be paying on $5k on this deal.  Not a great investment.

Good Investing...

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