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Updated over 1 year ago on . Most recent reply

Tyler Bushey's profile image
Tyler Bushey's profile image
Tyler Bushey
  • Investor
  • from Biddeford, ME
  • Member since Oct 19, 2017
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Tyler Bushey's profile image
Tyler Bushey's profile image
Tyler Bushey
  • Investor
  • from Biddeford, ME
  • Member since Oct 19, 2017
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Tyler Bushey
  • Investor
  • Biddeford, ME
180
Votes |
282
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Wholesaling

Assignment vs Double Closing Tax Question

Tyler Bushey
  • Investor
  • Biddeford, ME
Posted

I'm curious if I will be taxed differently if I assign a deal, versus closing on the property then selling after the fact.   I might be thinking way too hard lol, thought it was wort asking! 

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Timothy W.'s profile image
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Timothy W.
  • Member since Sep 16, 2018
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Timothy W.
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Timothy W.
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Timothy W.
Replied

IRS considers wholesaling as a business rather than a real estate investment deal. And yes, you are overthinking lol. This is a good article about tax on wholesaling - https://www.kolotax.com/blog/wholesaling


Good luck!

Tim

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