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Updated almost 9 years ago,
First Flip Listed! Any strategies to avoid CAPITAL GAIN$?
My first flip is listed on the market and should be selling soon. I was just wondering if there are any strategies or things that could be helpful to me on the capital gains. Im pretty sure in texas you have to own a property for 2 years before you can do a 1031 exchange. I plan on getting a CPA soon, but since this is my first deal i dont have one yet. I may call a couple CPA's and see if they can offer any advice, but im not sure how much they can offer if i am not one of their clients yet. Anyway, any strategies or other information would be helpful from others who have been through this already. Is there anything i can do to avoid or minimize the capital gains tax? Or do i have to bite the bullet on this? Thanks.