Updated over 5 years ago on . Most recent reply
Guidance regarding capital gain taxes
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?