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Updated over 2 years ago on . Most recent reply

User Stats

957
Posts
479
Votes
Gene Hacker
  • Flipper/Rehabber
  • Lake Isabella, CA
479
Votes |
957
Posts

CA lawmakers want an additional 25% cap gains tax for flippers

Gene Hacker
  • Flipper/Rehabber
  • Lake Isabella, CA
Posted

I am not sure how likely this is to pass but it is worth watching for anyone that invests in California or may wish to invest in California in the future. 

Basically, it looks like it is meant to target anyone buying and selling single family homes that they hold for less than 7 years.  

It is also worth noting that the additional tax would even apply to exchanges so it looks like 1031 exchanges would not offer protection from this new tax. 

Bill Text - AB-1771 The California Housing Speculation Act: income taxes: capital gains: sale or exchange of qualified asset: housing.

  • Gene Hacker
  • Most Popular Reply

    User Stats

    129
    Posts
    89
    Votes
    Tristan Gardner
    • Rental Property Investor
    • Mansfield, OH
    89
    Votes |
    129
    Posts
    Tristan Gardner
    • Rental Property Investor
    • Mansfield, OH
    Replied

    Goodness.. I see why some many people choose other markets outside of CA.

  • Tristan Gardner
  • Loading replies...