Capital gains TAX

[Maher Bateh]

I am nearing the finishing touches on my 1st flip and wanted to know how much capital gains tax I will be paying? I purchased the home through the county auction in March? What % will I be required to pay?

Note - This is my full time job as of Feb 2013. No other source of income.
Thanks

[J Scott]

You will not be paying any capital gains if it's a flip. You'll be paying ordinary income at your marginal tax rate, plus some amount of self-employment taxes, depending on how the holding entity is structured.