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Updated about 6 years ago on .
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What taxes are involved when purchasing, ad selling a Flip?
I am looking to begin flipping homes. As far as I know it can be boiled down to:
Purchase
Renovate
Sell
I would like to know what legal procedures and taxes are involved in the process, considering I am acting as a private individual and not as an LLC.
Most Popular Reply

@Ilan Friedman
Flipping is generally subject to ordinary income tax rates and self employment tax.