Quote:
Originally Posted by d-ray657
If you buy a $1000 property, put $100 into it and sell it for $1200, you've made $100 income from it.
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No you haven't. If you buy $1000 in property, you must also pay tax on it. You then pay tax on it every year that you hold it. You then pay tax again at sale time on any gain. You're lucky if you break even.