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Tax, SDIRAs & Cost Segregation

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Greg Kendall
  • Investor
  • Gloucester, MA
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8
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Short term vs. Long Term Capital Gains

Greg Kendall
  • Investor
  • Gloucester, MA
Posted Apr 11 2018, 14:33

I purchased my 2 family property in March of 2017 and spent the following few months doing renovations, upgrades etc.  It wasn't until rented until Mid-August 2017.  My question is if I chose to sell the property today, will I be past the 1-year mark to be considered a long-term capital gain or is it based on when the property was put in "service" as my Tax form 4562 calls it aka rented out?

Thanks in advance!

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