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Updated 3 months ago on . Most recent reply presented by

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Ngozi Iwunze
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TAX flipping to renting

Ngozi Iwunze
Posted

Taxes

I'm flipping a house, hoping to sell it and buy a triplex for rental purpose. Is there a way to avoid capital gain taxes. Im thinking of pushing my 2024 tax deduction to 2025 as a way to reduce it a bit.

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2,353
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Bill Hampton
  • Tax Strategist, Financial Planner and Real Estate Investor
  • Atlanta, GA
888
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2,353
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Bill Hampton
  • Tax Strategist, Financial Planner and Real Estate Investor
  • Atlanta, GA
Replied

@Ngozi Iwunze

One way to avoid capital gains is to turn the flip into a rental after the rehab and then do a 1031 exchange into a more expensive property. 

  • Bill Hampton
  • 404-482-3170
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Hampton Tax and Financial Services, LLC.
4.8 stars
93 Reviews

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