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Thomas Smith
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Splitting profits from home rehab sale.

Thomas Smith
Posted Sep 10 2020, 13:48

My mom bought a home to move into earlier this year and due to declining health we decided to fix the house up and sell it. Me and my girlfriend did all of the work so now I’m wondering how we go about splitting the profits between us so my mom doesn’t get ate up in short term gains taxes. Would we need to start an llc and just bill her for our share of work? I appreciate your help!

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