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Updated almost 6 years ago on . Most recent reply

Lauro Torres's profile image
Lauro Torres's profile image
Lauro Torres
  • Flipper/Rehabber
  • from Denver, CO
  • Member since Apr 21, 2018
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Lauro Torres's profile image
Lauro Torres's profile image
Lauro Torres
  • Flipper/Rehabber
  • from Denver, CO
  • Member since Apr 21, 2018
Connect
Lauro Torres
  • Flipper/Rehabber
  • Denver, CO
1
Votes |
10
Posts
Tax, SDIRAs & Cost Segregation

Fix and Flip Tax Question

Lauro Torres
  • Flipper/Rehabber
  • Denver, CO
Posted

Hey guys I fixed and flipped a house and made a profit. Are there any documents I should be gathering from the closing company and filing on my tax return? Or do I just report the amount of profit?

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Brandon Sturgill's profile image
Brandon Sturgill's profile image
Brandon Sturgill
  • Real Estate Broker
  • from Columbus, OH
  • Member since Apr 30, 2013
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Brandon Sturgill's profile image
Brandon Sturgill's profile image
Brandon Sturgill
  • Real Estate Broker
  • from Columbus, OH
  • Member since Apr 30, 2013
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Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
1,770
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Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Replied

@Lauro Torres Use the magic of your CPA. Worth their weight in gold...don't go it alone if you plan on having any resemblance of a real estate business. 

  • Brandon Sturgill
  • 614-379-2017
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Realize Property Management Group
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