My son bought a foreclosed house Sept. 2013 to fix up and sell.He is in the 15% tax bracket.He is hoping to have a gain on the house, so would he be better to hold it for one year and one day?Is the gain he would make on the house added to his 15% bracket if it's short term cap gain and he doesn't hold it for a year?Can he deduct, gas, food, etc. to offset the gain?My concern is holding it til Sept. 2014 and missing out on the best "selling" market.Thank you,DLO
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