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Updated about 7 years ago on . Most recent reply

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Rehabbing & House Flipping

Filing An Annual Report for my LLC

Giovanna Owen
Posted

I'm flipping a property in Baltimore, MD. My entity is a Maryland LLC and is only being used for this one flip. I am trying to file the annual report. Is the property to be flipped considered the businesses's "personal property" for the purposes of this form? I've been having a hard time getting an answer from my accountant, and the report is due today.

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Properties in a flipping business are inventory.

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