Oh it's going to be worse than that. Even if you make a profit on your property, Biden is going to raise the capital gains tax to 40% for ALL income levels. And if that isn't the icing on the cake, he's said he will eliminate the 1031 exchange which means as soon as you sell, you're paying taxes.
Oh it's going to be worse than that. Even if you make a profit on your property, Biden is going to raise the capital gains tax to 40% for ALL income levels. And if that isn't the icing on the cake, he's said he will eliminate the 1031 exchange which means as soon as you sell, you're paying taxes.