Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

17
Posts
3
Votes
Andrew Leighton
  • El Paso, TX
3
Votes |
17
Posts

Does anyone know if a flip is tax deductible

Andrew Leighton
  • El Paso, TX
Posted
I bought a house I’m currently flipping last year. Can I use the purchase price as a tax deduction? I would appreciate all info as this tax season I’m being hit with a $6k tax bill.

Most Popular Reply

User Stats

137
Posts
61
Votes
Jay Thomas
  • Chicago, IL
61
Votes |
137
Posts
Jay Thomas
  • Chicago, IL
Replied
You should only be paying taxes on your net profit (Sold Price - Acquisition Cost - Rehab Cost - Holding Cost - Any other Cost Incurred)

Loading replies...