Updated almost 9 years ago on .
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Does Depreciation of one property Offset Capital Gains on another
I am just looking for clarity on this matter. If I have a bunch of depreciation in my holding company, can that be used to off set capital gains tax on my flips?
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@Matthew T. are you filing as a "real estate professional"? If not, there is only a certain amount of depreciation that will flow out to your normal income. @Alan Russell was right here as well, your flips are not capital gains, they are ordinary income.