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Updated almost 6 years ago on . Most recent reply

Ilan Friedman's profile image
Ilan Friedman's profile image
Ilan Friedman
  • from Beit Shemesh, Israel
  • Member since Mar 26, 2018
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Ilan Friedman's profile image
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Ilan Friedman
  • from Beit Shemesh, Israel
  • Member since Mar 26, 2018
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Ilan Friedman
  • Beit Shemesh, Israel
1
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Tax, SDIRAs & Cost Segregation

What taxes are involved when purchasing, ad selling a Flip?

Ilan Friedman
  • Beit Shemesh, Israel
Posted

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.

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Lance Lvovsky's profile image
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Lance Lvovsky
  • Accountant
  • from Fort Lauderdale, FL
  • Member since Jun 5, 2013
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Lance Lvovsky's profile image
Lance Lvovsky
  • Accountant
  • from Fort Lauderdale, FL
  • Member since Jun 5, 2013
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Lance Lvovsky
  • Accountant
  • Fort Lauderdale, FL
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Lance Lvovsky
  • Accountant
  • Fort Lauderdale, FL
Replied

@Ilan Friedman

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

  • Lance Lvovsky
    • 1 Vote
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