short term vs long term capital gains?
i invest in sub 50k homes.
i bough a house for 25k in December of 2016. i have an offer for 59k.
what should i expect to pay in capital gains if i sell for a 34k profit within one year (short term)?
what should i expect to pay in capital gains if i sell for a 34k profit after one year (long term)?
my wife and myself are in a high tax bracket. last year we grossed 150k combined. this year (2017) we will probably gross over 250k combined income.
thank you