Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago,

User Stats

8
Posts
5
Votes
Deborah S Huff
Pro Member
5
Votes |
8
Posts

Rental turned "Flip?" - How will it be taxed?

Deborah S Huff
Pro Member
Posted

I bought an out-of-state duplex intending to rehab and rent it. In 2019, I Rehabbed Unit 1, and advertised for rent but didn't find a tenant.  In 2020, I rehabbed Unit 2, and now I want to sell the duplex in 2021. In my 2020 taxes, how do I treat the expenses incurred in 2020 ?  What about the depreciation taken in 2019 ?  Will profit (if any) be taxed as ordinary income or as capital gain ?  

  • Deborah S Huff
  • Loading replies...