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Updated almost 4 years ago on . Most recent reply

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Jack Jackson
  • Member since May 6, 2021
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Jack Jackson
  • Member since May 6, 2021
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Buying & Selling Real Estate

Flipping houses using LLC (TAX)

Jack Jackson
Posted

I have purchased a house with 2 partners using an LLC. Everything was paid with cash. I wonder if we sale the house and we do not take the money out of the business account, do we still need to pay tax on the profits.

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