Updated about 6 years ago on . Most recent reply
Capital Gain into a New Rental
Hi BPs,
If I flipped a property, and use the entire gains from the sale to buy another property but that second property I decided to do buy and hold.
Do i still have to pay taxes on the capital gains from the first property?
Most Popular Reply
John Thedford
#5 Wholesaling Contributor
#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
Yes if it was simply a flip it is taxed as ordinary income. Buy and hold will give you tax advantages not available for flips.