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Old 03-22-2017, 03:03 PM
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Selling (lease) option after three years

Purchased 5 year lease option from friend. I have lived there three years, made many improvements. I had intended to keep, but market is good and I have a buyer. All parties (and real estate lawyer) signed off on me transferring (selling) option to new buyers.

Will the proceeds from my option be treated as a short or long term gain?

Thanks for your time! Brian

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