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Updated almost 5 years ago on . Most recent reply

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Guidance regarding capital gain taxes

Swastik Tripathi
Posted

Hello!

    I'm 19 years old and am greatly motivated by Mr. Brandon Turner's books. I plan on starting my own real estate business in a few years.

    As a newbie, I have a question regarding 'Capital Gains Tax'. 

    Suppose I buy a house $70,000 and am able to sell for $100,000 within 6 months. Can I get the privilege of 'Tax deferred Capital Gain' and buy another property from the gains without having to pay taxes there? Even if I only held the property for 2 years or months?

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