Sale Of Property Winthin 5 Years Of Puchase

[Apothecary]

Hi,

I'd be greatful if anyone could explain the tax penalty for the sale of a condo after 6 months of purchasing?

I understand normally one must own a condo for more than 5 years to benefit from a tax break?

I'm most appreciate if someone could enlighten me

Thank you,

Apothecary

Edited June 5, 2006 by Apothecary