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Updated about 7 years ago,

Yolanda Williams's profile image
Yolanda Williams's profile image
Yolanda Williams
  • Real Estate Professional
  • from Fort Wayne, Indiana
  • Member since Dec 22, 2015
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Yolanda Williams's profile image
Yolanda Williams's profile image
Yolanda Williams
  • Real Estate Professional
  • from Fort Wayne, Indiana
  • Member since Dec 22, 2015
Connect
Yolanda Williams
  • Real Estate Professional
  • Fort Wayne, IN
0
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4
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Rehabbing & House Flipping

Flipping Income Gain

Yolanda Williams
  • Real Estate Professional
  • Fort Wayne, IN
Posted

What amount is considered income on house flipping for tax purposes?I purchased a home for cash-no mortgage for 25k put 25k in repairs in and sold for 79k, net 71k. How can I defer or decrease the taxation on income. Property was bought and sold in my personal name, held for over 1yr-non primary residence.

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