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Updated about 4 years ago,

User Stats

24
Posts
6
Votes
Jesse Soriano
6
Votes |
24
Posts

Do you pay taxes on net profit from a flip or the total price

Jesse Soriano
Posted

When doing a flip 100% all cash.

Do you pay taxes on the price you sell the house for. Or just in the money that you made profit on?

Let say you bought a house for 30k

Spent 20k on rehab

And sold for 70k

Do you get taxed on 70k

Or the 20k profit you made?

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