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All Forum Posts by: Drew Wa

Drew Wa has started 1 posts and replied 1 times.

I have purchased a few properties at an auction and selling within a month at a profit using installment sale. I'm a Texas LLC setup as Real Estate Holding Company.

My question is will I pay a higher tax on the sale by not holding them longer?
Being an installment sale I know I'll pay tax only on the portion I receive each year but is this a very bad idea?

It's very confusing because I buy property to rent out and not sell so am I still required to report interest on 1098 each year?

Thank you in advance