Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago,

User Stats

40
Posts
13
Votes
Tony Roddenberry
  • Rental Property Investor
  • Brunswick, GA
13
Votes |
40
Posts

Taxes on sell of property

Tony Roddenberry
  • Rental Property Investor
  • Brunswick, GA
Posted

I just sold my first flip! Was able to get a great deal on a MH and turned it for a great profit.  Was all in at just under $50,000 and sold it for $75,000.  Now for the sad part..... TAXES. How much should I set aside? I took a big pay cut to position myself for doing real estate so I'm guessing my net income will be under $75000 unless I can find another good deal. If that happens I will still be under $100,000 filing married/joint. I believe Georgia has a 6% rate.

Loading replies...