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Updated almost 4 years ago on . Most recent reply

User Stats

48
Posts
23
Votes
Chelsea Ziss
  • Investor
  • Maumee, OH
23
Votes |
48
Posts

Agent Commissions, rental income& flips - help with structure?

Chelsea Ziss
  • Investor
  • Maumee, OH
Posted

All of my income is real estate related. I make real estate commissions, I have a couple rental properties, and am about to embark on my next endeavor, a flip. I'm also looking to purchase a duplex or possibly 4plex.

Right now, both rentals are just in my personal name, with no loans on them. My real estate commissions are 1099'd to me from my brokerage. 

I have an S corp that I've done absolutely nothing with other than file the correct paperwork.

So my question is this - should I quit claim the rentals into the S corp? Should I put them in their own llc?

I'm completing a mini flip right now - bought a house for 18,500, selling it for 33,500, which will leave me 15k capital to be taxed on capital gains. I don't have the time to do a 1031, as I may need the cash for a personal purchase. Should I just suck it up? Or is there a way I can avoid that? I'm so overwhelmed. Help!


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