John UnderwoodPoster
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Tax Lien Short Term Capital Gain date
John UnderwoodPoster
#3 All Forums Contributor
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#3 All Forums Contributor
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- Greer, SC
Does your short term capital Gain start date begin you you purchase the property (tax lien purchase) or when property is needed?
Please quote tax code to back up your choice.
It would seem it could be argued that it begins when your purchase.
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@John Underwood Yes I know you keep most of your properties so I was surprised at the question. :-)
There could be cases regarding mortgages and since it is a similar situation they might be good guidance.
Personally while I do some tax planning I don't let the tail wag the dog. What is stupid, and my own fault, is allowing my business to become so complex that it is tough to do timely tax planning.
@Don Konipol understood . I have many companies (too many) to segregate my various activities.