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Expert Analysis

When A Real Estate Sale Results In Ordinary Income

Law360, New York (August 11, 2015, 4:14 PM EDT) -- It's a commonly held belief that proceeds from the sale of real estate are capital gains. Those are desirable since they are subject to favorable tax rates when the property is held for more than a year. But this isn't always the case. The problem arises because the Internal Revenue Code excludes from the definition of "capital asset" property held primarily for sale to customers in the ordinary course of business....

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