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Updated over 10 years ago on . Most recent reply

Tommy Benson's profile image
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Tommy Benson
  • from Stockton, California
  • Member since Apr 21, 2013
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Tommy Benson's profile image
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Tommy Benson
  • from Stockton, California
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Tommy Benson
  • Stockton, CA
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Question for veteran wholesalers

Tommy Benson
  • Stockton, CA
Posted

How does taxes work for wholesale income? Specifically is it considered capital gains even though you get an assignment fee?

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James Vermillion
  • from Lexington, Kentucky
  • Member since Oct 24, 2009
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  • Lexington, KY
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James Vermillion
  • Lexington, KY
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Tommy,

If you are wholesaling the income will be earned income (not capital gains), just like income received from a job and will be taxed at your marginal tax rate.

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