investment income: Flipping Houses Gains Is It Capital Gain or Ordinary Income?
- 03/07/22 01:04 PM
The short answer is it depends. It depends on what exactly? I’m glad you asked. We will look at it in two distinct ways. Alex Tax has a full-time job as a tax professional. He earns $85,000 a year in this role. Alex has always enjoyed real estate, particularly bringing neglected properties back to life. Alex purchases about two houses a year to breathe new life into them and sale at a gain. Alex averages a gain of $15,000 to $20,000 per sale. Alex does everything under his personal name because it is purely something he does for fun. Louis Tax is Alex’s … (0 comments)
The short answer is it depends. It depends on what exactly? I’m glad you asked. We will look at it in two distinct ways.
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