Originally Posted by Kali
I have owned a commercial property in Texas and I am considering selling it. If I am a resident of California (possibly might change to Texas) and have owned this property for under 2 years what is the capital gains? I have heard from some people it is 15% from others I have heard 24%.
If I want to cash out on this property, anyways to minimize the loss? Profit might be about 1 million dollars after paying off current note.