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Betty is a real estate dealer and has numerous properties for sale, many of which she owns. Her son is finishing his education and plans
Betty is a real estate dealer and has numerous properties for sale, many of which she owns. Her son is finishing his education and plans to go into the consulting business. Betty has committed at least $25,000 to help him out until the business becomes self-sufficient. Betty plans to dispose of one of the properties but wants to know if there is any way the gain on the property can be taxed at capital gains rates rather than as ordinary income.
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