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Updated over 9 years ago,
Wouldn't you want to pay capital gains...?
I have always heard capital gains is terrible, etc... but I have a business partner in another venture and he says when you pay taxes it's meaning you are making money.
The other thing is my ordinary tax is at 37% (fed/state of Iowa) and capital gains is at 24% so wouldn't I rather hold the property for 366 days and pay capital gains?