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171
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49
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Cameron Ellis
  • Investor
  • Memphis, TN
49
Votes |
171
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Is a wholesaler a real estate dealer?

Cameron Ellis
  • Investor
  • Memphis, TN
Posted Dec 7 2014, 17:32

I've been looking online getting ready for tax season, and I'm having trouble identifying if I will be taxed under a real estate dealer. I've wholesaled 30+ transactions this year using assignment contract, wholesale-flipped 4-5(brought and resold as-is) and have 3 under holding currently that I will rent out, one that may be owner financed. will the IRS identify me as a real estate dealer?  

I deed everything under my personal name, and a partner. I've done a couple deals within a property trust. 

I see the taxes would be a lot higher under a real estate dealing my reason for asking.

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