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Updated almost 10 years ago on . Most recent reply

Jessica S.'s profile image
Jessica S.'s profile image
Jessica S.
  • Real Estate Agent
  • from Portland, Oregon
  • Member since Oct 16, 2013
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Jessica S.'s profile image
Jessica S.'s profile image
Jessica S.
  • Real Estate Agent
  • from Portland, Oregon
  • Member since Oct 16, 2013
Connect
Jessica S.
  • Real Estate Agent
  • Portland, OR
67
Votes |
154
Posts
Tax, SDIRAs & Cost Segregation

Quick Tax Question About Flipping

Jessica S.
  • Real Estate Agent
  • Portland, OR
Posted

I will be closing on a cash purchase for a fixer in 2013 which I will be flipping in 2014. How do I handle this tax-wise?

Is there any problem with deducting an expense incurred in 2013 on my 2014 return?

I would appreciate some clarification on this. Thanks

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