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Updated almost 11 years ago,

User Stats

96
Posts
33
Votes
Wesley C.
  • Investor
  • Knoxville, TN
33
Votes |
96
Posts

Buying supplies before closing

Wesley C.
  • Investor
  • Knoxville, TN
Posted

If one hasn't closed on a house yet, but wants to buy some supplies before the closing date, is that ok for tax purposes? For example a flipper finds a deal on tile that won't be there in two weeks and wants to go ahead and procure them, is it a problem with the IRS if the date on the receipt is prior to closing?

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