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Updated over 2 years ago,
IRS Audit Help - Past 3 years 1040
In the past 3 years I've flipped about 1 property per year in addition working my 9-5 job, I just received an audit from IRS saying that I have to pay an excessive amounts in taxes. I'm in need of a professional that has experience dealing with the IRS and providing the proper documentation to them so can clear this out. They acclaim I made 380k on one property, while my actual profit (purchase + basis) - sales price is really 60k. Has anyone encountered this before or know the proper way to handle it? Thank you