Tax hit when selling your own investment property as a real estate agent

[Cory Carrigan]

Does anyone know the tax implications when selling your own investment property when you are a real estate agent?  I always thought it was just long term capital gains but I was told recently that since my wife and I are real estate agents, we would be taxed at our normal income tax rate.  Thinking about doing a 1031 to avoid taxes.

[Jeff Nash]

@Cory Carrigan if your CPA or tax professional is not real estate focused he/she just might not be familiar with certain aspects of the tax code.  Tax professionals are similar to attorneys and everyone has their niche and specialty.