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Updated over 4 years ago on . Most recent reply

Jeff Nichols's profile image
Jeff Nichols's profile image
Jeff Nichols
  • from KnoxvilleTN
  • Member since Jun 23, 2016
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Jeff Nichols's profile image
Jeff Nichols's profile image
Jeff Nichols
  • from KnoxvilleTN
  • Member since Jun 23, 2016
Connect
Jeff Nichols
  • KnoxvilleTN
2
Votes |
20
Posts
Tax, SDIRAs & Cost Segregation

How to expense a flip when purchased in 2019 but sold in 2020?

Jeff Nichols
  • KnoxvilleTN
Posted

I purchased a home to flip in 2019 but sold it in early 2020. I did most of the work and purchased most of the materials and supplies in 2019. How would I expense the profit in 2020 when the receipts are from 2019?

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