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Rehabbing & House Flipping

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John Jarvis
  • Seattle, WA
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Tax Treatment

John Jarvis
  • Seattle, WA
Posted Feb 15 2014, 14:49

All, I'm looking for clarification on how expenses are dealt with in the flipping world. I've got an offer in on a potential flip that needs carpet and appliances. As a landlord, I know how to deal with these in a rental (depreciate over 5 years). In a flip transaction, do these become deductible expenses or improvements (added to basis) ?

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