I'd expect them to be taxed as ordinary income, and would encourage you to move professionally and quickly to complete the projects and realize those profits.

I think that as long as we have an influx of young, able-bodied people (who vote), we will be able to stave off the serious evils of even moderate deflation benefitting the interests of older Americans at the expense of economic growth, and hopefully prevent a depression from recurring.I think that as long as our population does not get too old, and the dollar remains it's position of relative strength, that a deflationary depression is unlikely.

The American Flag is hanging in the path of foot traffic.The bunk room has a large chair blocking the closet door.You have five 5-star reviews, so I would say you are well on our way.

Hi Liz,I'm neither American nor a tax specialist but, as far as I know, you are correct but as far as US taxes are concerned.

From 1990 to 2015, according to American Community Survey (created by the US Census Department), there has been an increase from 34,460 residents to 160,252 residents working in Williamson County.  

To be deductible, a business expense must be both ordinary and necessary.

I've done 2 1031's and if something goes wrong, you want to be able to hold them accountable.With all due respect, if your realtor has given you incorrect advice, you will be unable to hold them accountable for anything and you will be left holding the bag (and tax bill).I used First American Exchange Company for both of my 1031s in Chicago.

When a tenant causes damages or leaves the place dirty, charge them for the cost of returning the property to its original condition, minus ordinary wear-and-tear.

As a result, Chris can deduct the $10,000 passive loss against his ordinary income.It’s important to note that you must keep contemporaneous records and those records need to be absolutely bulletproof to substantiate your real estate professional status claim. 

Flip profits are ordinary income not capital gains and there is no way to defer them.