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Updated about 9 years ago,
Tax on sale of real estate
I currently own 21 properties in Indianapolis. I have never sold one of my properties. Someone recently contacted me with interest in buying a few of my properties. I am curious to know how to figure the amount of tax I will owe on the sale of these properties. Is there anyone out there who understands taxes on the sale of property in Indianapolis? Is there a specified amount of time I should hold properties before selling in order to pay the least amount of tax?
Thank you,
David