Updated about 6 years ago on . Most recent reply
Mobile home flips and taxes
I've been following a lot of the boards talking about the mobile home niche of REI, and am gearing up for my first deal this spring. One area I haven't seen a lot of discussion around relates to how the sales of these flips are taxes. My states' Dept of Rev (GA) has information that gives context to how much the tax would be for a purchase, but I haven't seen anything concrete about how these would be handled post flip.
Specifically, would these be recognized as capital gains, income, etc? Would this change any if the deals were sold under an LLC vs independently? Does the sale on a tax differ for quick fix and flips vs. rent to own notes (ie 5-7 years)?
If anyone out there has some insight here, that would be awesome. And if there is already a thread talking about this topic, definitely point me to that as well :)