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Updated about 4 years ago on . Most recent reply
Anyone have a list of tax deductions for a flip?
I have a house I fixed and closing on the sale next week. I’ve owned it over 2 years so long term capital gains. NOT doing 1031 on this one
lAny list of things which can be deducted besides the major ones such as property taxes, materials etc
What about mileage back and forth to fix up? Did that need to be deducted last year when it occurred or can I do that now that it is being sold? Do I need to have kept track of it or can I do it now?
any other suggested deductions? Place sold for way more than I thought it would (lucky me) so am trying to find more deductions
Thank you in advance
Most Popular Reply
Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Property Manager
Pro Member
#2 Short-Term & Vacation Rental Discussions Contributor
- Property Manager
- Gatlinburg, TN
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Collin Hays
#2 Short-Term & Vacation Rental Discussions Contributor
Property Manager
Pro Member
#2 Short-Term & Vacation Rental Discussions Contributor
- Property Manager
- Gatlinburg, TN
I would ask your accountant.
- Collin Hays
- [email protected]
- 806-672-7102
SMOKY MOUNTAIN FALLS INC.