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Will H.'s profile image
Will H.'s profile image
Will H.
  • Investor
  • from Greenville, SC
  • Member since Dec 22, 2015
  • Posts 8
  • Votes 0
  • Experience 10 Yrs
  • Investments 4

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8
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Will H.'s profile image
Will H.'s profile image
Will H.
  • Investor
  • from Greenville, SC
  • Member since Dec 22, 2015
  • Posts 8
  • Votes 0
  • Experience 10 Yrs
  • Investments 4
Will H.
  • Investor
  • Greenville, SC
0
Votes |
8
Posts
Tax, SDIRAs & Cost Segregation

First year flipping homes as LLC partnership

Will H.
  • Investor
  • Greenville, SC
Posted

I am 50% owner of an LLC. We have purchased a pair of single family homes and spent money renovating them but have yet to generate any income (or profit). Thoughts on how to best handle taxes? Want to carry forward expenses (cost basis in 2019?) or write off vs K1 income from other partnership...

I'm debating on doing these myself (software) vs using a CPA... thoughts?

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