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Updated almost 9 years ago,
Wholesaling bookeeping
I have done a short wholesaling campaign last year. where would you include/how would you tabulate that come tax time? I purchased rental properties at the end of 2014 and middle of 2015. The wholesaling was a business activity, and the 2 CPAs I asked said that it is definitely a tax write off.
My reason for asking is: I don't have a LLC/corp associated with my rental business, so would this wholesaling campaign be included as expenses for a property that was purchased subsequently to it? Or in a separate category on the tax preparation software? I appreciate your thoughts.