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Updated about 9 years ago,
To flip or rent out and tax consequences
I bought a home in April 2015 and rehabbed it. I put it up on the market for sale and rent at the same time.
I have an interested couple in renting the townhome for a 6 month lease. So that would give the home back to us for selling in the summer.
My question is should I sell now ( subject to short term capital gains, self employment taxes) or rent out and sell after the one year hold ( subject to long term capital gains) ?
Also what is the long term capital gains for real estate? Are there other tax considerations?
Jorge