ThanksThe classification of the income (business income vs capital gain) depends on your intent with respect to the specific property and how the IRS classifies you and your business, not how long you hold the property.Regardless, short term capital gains are taxed at your marginal tax rate, so all other things being equal (though they may not be) you'll pay the same amount of taxes regardless of whether the income is considered a capital gain or business income.Of course, if the income is classified as a capital gain, the amount of time you've held will then come into play, as long-term capital gains are taxed at a fixed rate, not a marginal rate.

I remember that class. If

They don't start you off from the very beginning, its more like a cycle of classes and you just get thrown in and the class you just missed will basically be your last class, if that makes sense.

Hi Andy,If your only real estate transactions are wholesales, you WILL be classifed a "dealer" by the IRS.

Most taxing jurisdictions do not have a separate classification for Patio Homes.The term was first seen in print in the mid-1970s.[4] In a more generic sense it may refer to a home with a prominent patio, such as some traditional Mediterranean-style homes.[5]There is often confusion about what a patio home or cluster home is, and how it differs from a townhome.A townhome generally consists of three or more units with shared walls in a single building, and the townhome lot is limited to the ground on which the unit stands and perhaps a small rear patio area, with no additional private land.

Google won't even pull up "real estate dealer license" So it must not exist ; } lol Update: Dealer is a tax classification and has nothing to do with licensingOriginally posted by Bill Patterson:It's not like a car or boat dealer license.

You can use it for a home which is the lowest impact of all zoning classifications and later on you might want to convert the usuage to commercial.

Or maybe something simple like a list of approved vendors in the resources section which also breaks them down by state and classification (lender, const. realtor, ect) so that it can be somewhat local in nature.Of course all the other provisions would apply, such as being nominated, and being in good standards and high regards.

Upon researching this topic for my college paper, I had to find the NAICS Industry Classification Code for Real Estate Investors.

These classifications all have different tax consequences and your transaction is treated somewhat differently.