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Updated over 5 years ago on . Most recent reply

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Chase Romine
  • Rental Property Investor
  • Kentucky
11
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26
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15% Taxes for flipping?

Chase Romine
  • Rental Property Investor
  • Kentucky
Posted

Hey everyone,

New to this. (Read a few books) but was wondering about the 15% tax on flipping homes since your considered a business. Is it 15% in every state? If not, how do I figure out what all my charges will be? Not sure who to talk to..

Most Popular Reply

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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
4,385
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
Replied

@Chase Romine yes, 50% of gross profit. Paid at tax time with your regular income taxes

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