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Updated about 8 years ago on . Most recent reply

Richard Fleming's profile image
Richard Fleming's profile image
Richard Fleming
  • from Columbia, South Carolina
  • Member since Jan 8, 2017
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Richard Fleming's profile image
Richard Fleming's profile image
Richard Fleming
  • from Columbia, South Carolina
  • Member since Jan 8, 2017
Connect
Richard Fleming
  • Columbia, SC
2
Votes |
12
Posts
Tax, SDIRAs & Cost Segregation

Buy and hold income question

Richard Fleming
  • Columbia, SC
Posted

Let me make sure I get this straight...Just for example, I buy a house today and rent it out tomorrow. From the day I begin to receive rent from the tenant through the Dec 31, this is looked at as "income"  by the IRS and taxes need to be paid on such, correct? If this could be clarified, it would be appreciated. I've heard a few different opinions on the topic

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