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Updated over 10 years ago,

Patrick Britton's profile image
Patrick Britton's profile image
Patrick Britton
  • from Ann Arbor, MI
  • Member since Jul 31, 2014
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Patrick Britton's profile image
Patrick Britton's profile image
Patrick Britton
  • from Ann Arbor, MI
  • Member since Jul 31, 2014
Connect
Patrick Britton
  • Ann Arbor, MI
994
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1,509
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Wholesaling

Taxation and the assignment fee

Patrick Britton
  • Ann Arbor, MI
Posted

Howdy,

So...after getting paid for a wholesale deal - let's assume a simple assignment of contract that's stated on the HUD - how is that taxed? is each state different? what if you sell an LLC which "owns" the contract to another party? is it a capital gain?

forgive my ignorance of US taxes. 

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