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I bought a house, fixed it up, and sold it 4 months later for a $10,000 profit. How much capital gains tax will I have to pay?

April 26, 2017bought capital gains fixed House later months profit sold

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I bought a house, fixed it up, and sold it 4 months later for a $10,000 profit. How much capital gains tax will I have to pay?

1 Answer

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None. The gain does not qualify as a capital gain it is pure business income and the entire $10,000 should be added to your income.