Capital Gains Tax Question - Posted by Rob

Real Estate Investing Real Estate Law
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Posted by Natalie-VA on May 14, 2007 at 17:54:12:

Rob,

I’m not an attorney or CPA, but I do deals like this often. Your fees would probably be classified as short term capital gains which are taxed at ordinary income tax rates. In my mind, it really doesn’t matter what you call it, the tax is the same.

–Natalie

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Capital Gains Tax Question - Posted by Rob

Posted by Rob on May 09, 2007 at 09:36:21:

I am in the process of putting a house under contract. I already have an investor willing to give me 20,000 to assign him my contract. Is this 20,000 subject to capital gains? Or do I just have to claim it as income.