Capital Gains Tax %
We just purchased an investment property. We are going to fix it up and turn around and resale it. Hopefully, within a year.
I have been told differnt things on this capital gains tax.
I have been told that the gov. taxes you 40% of your profit and I have also, been told that you get taxed just like your regular paycheck.
Can someone please clarify this.
Thank you,
Sheila
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