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Updated over 16 years ago on . Most recent reply

Grand Wally's profile image
Grand Wally's profile image
Grand Wally
  • Real Estate Investor
  • from Louisville, Kentucky
  • Member since Jan 27, 2008

User Stats

159
Posts
13
Votes
Grand Wally's profile image
Grand Wally's profile image
Grand Wally
  • Real Estate Investor
  • from Louisville, Kentucky
  • Member since Jan 27, 2008
Grand Wally
  • Real Estate Investor
  • Louisville, KY
13
Votes |
159
Posts
General Real Estate Investing

Taxes with rehabs?

Grand Wally
  • Real Estate Investor
  • Louisville, KY
Posted

Doing my taxes....last minute no less. I'm a single member LLC so I'm treated like a sole proprietor per the IRS. I picked up two rehabs at the end of last year and I finished them in 2009. So, I'm showing expenses with no income on these properties for 2008. I'm being truthful, but does this invite an audit?

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