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Pennsylvania Real Estate Q&A Discussion Forum

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Anton Bachuk
  • Erie, PA
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Holding a flip long enough for avoid higher taxes in PA?

Anton Bachuk
  • Erie, PA
Posted Nov 27 2018, 19:48

I am looking to get my feet wet in real estate and found a property that is in need of renovations in western PA. One thing I'm trying to figure out is just how quickly can I flip it. From what I understand any profit from the property I unload under a year would be considered "investor income" and can be taxed up to 37% and anything over a year would be considered a long term capital gain which falls in 0-20% tax bracket. Is this accurate? 

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