Just Flipped my first property!

[Tara Grogan]

I am closing this week on a property I bought a year ago for 50k started renovations well more my manual labor, but anyway I sold it for 103k.  I was wondering how do I figure out what to send uncle sam for taxes.  And my next question is how much taxes would I have owed if I sold it before I had owned it for a year!  I only sold it because I want to finish renovating  a bigger house that I have.  I have started reading book on hard money lending, and mortgages before this I did and still do interior design and faux finishing for the past 10 years.  Any help on taxes mortgages a better way to fund this than my own money that is safe Im all ears.