Can I Deduct Interest For Private Money Lender
I got a Private loan for my rental property. Can I deduct the interest cost on Line 13 , other interest, in Sch E?
I got a Private loan for my rental property. Can I deduct the interest cost on Line 13 , other interest, in Sch E?
Absolutely.
Profit from property flips is taxed as ordinary income. This applies to all property flips in whatever condition they are in.