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Updated almost 8 years ago on . Most recent reply

User Stats

14
Posts
1
Votes
Pannell Catherine
  • Investor
  • Houston, TX
1
Votes |
14
Posts

Help! Wholesaler needing help with taxes!

Pannell Catherine
  • Investor
  • Houston, TX
Posted

This is my first year operating as a wholesaler under an LLC I had created. I closed 5 wholesale deals last year totalling a profit of about 18k. My question is regarding taxes. I've never claimed wholesale income before and I am not familiar with the process. I have not recieved any tax returns from the title companies showing the income I made. Does the title compnay report my wholesale fees to the to IRS? I know Im a total amateur! Just wanting clarity on how the income is reported if at all. Thanks!

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