TAX ON residential flip

[Matthew Teifke]

quick question here.  If someone buys a house for $100,000 and sells it a year later for $150,000 will they be taxed on $50,000 profit or will they be taxed on $50,000 - the 6% ($9,000) commission. 

Basically will they be taxed on $50,000 or $41,000 ?