Capital gains treatment of B&H rental under personal name

[Huong Luu]

Looking for some clarification on this. I was recently told by a financial adviser (who is not an active RE investor) that the capital gains on my rental property would be taxed at 100% and would not qualify for the capital gains exemption due to the fact that the property is under my personal name and is my primary income, thus active (or earned) income. Would appreciate any advice (besides talk to your accountant). Has anyone dealt with this before?   

[Ashish Acharya]

I think what he/she is saying is:

- the income/gain on sale is 100% taxable (not 100% tax rate). That is correct. 

- it is not an earned income (passive still). can be nonpassive with exceptions.

- being in the personal name is not going to be relevant for the rental properties from a taxation perspective for you.