Newsflash: I’m looking to invest in a multi-family condo development project which will take a projected 2 years to build and sell off. Can you help me better understand my tax exposure?

LLC will buy into land ownership and development of a 19-unit residential condo. If we invest today and takes 2-2.5 years to sell all condos, would I be exposure to long term capital gains (As our equity purchase is >1 year) or short term capital gains (as the time the condos are finished vs sold will be <1 year)?



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