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Updated over 8 years ago on . Most recent reply

Mark Beekman's profile image
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Mark Beekman
  • Investor
  • from Phoenixville, PA
  • Member since Jan 6, 2008
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Mark Beekman's profile image
Mark Beekman's profile image
Mark Beekman
  • Investor
  • from Phoenixville, PA
  • Member since Jan 6, 2008
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Mark Beekman
  • Investor
  • Phoenixville, PA
18
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257
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Tax, SDIRAs & Cost Segregation

Would this be a Long Term Capital Gain, or Ordinary Income?

Mark Beekman
  • Investor
  • Phoenixville, PA
Posted

I purchased a vacant plot of land over a year ago. My original intention was to flip it, but now I'm thinking of placing a mobile home on it and selling it. Would the proceeds of this sale be considered long term capital gains, or ordinary income?

I should note that I have never had a house built or mobile home installed before, so it is not a normal course of business for me.

*Bonus points for anyone who can tell me if my profile pic is being displayed correctly. It appears sideways on my iPad :)

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Joshua D.
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  • from Columbus, MT
  • Member since Oct 10, 2013
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Joshua D.'s profile image
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Joshua D.
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  • from Columbus, MT
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Joshua D.
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  • Columbus, MT
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Joshua D.
  • Investor
  • Columbus, MT
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Sideways pic on my iPad...

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