Dealer Status

Dealer status- I have an stype and want to leave it that way until I can make some money. I am worried about getting labeled as a dealer (Dealer status) if I resell houses. How many houses can I do in s satus before you get labled a dealer and subjest to at rate of taxation and rules?

Comments(3)

  • JohnLocke25th September, 2003

    JoeFitzgerald,

    Glad to meet you.

    Joe, you might hear many different opinions on this question, so it is best to consult with a tax advisor so he or she can guide you depending on your personal financial situation.

    Questions like this are best left to the experts.

    John $Cash$ Locke

  • thomasgsweat25th September, 2003

    Start making money and then worry about the taxes. Not the other way around.

    Of course then you pay someone else to worry about it.

  • JoeFitzgerald26th September, 2003

    You are both completely right, however once the IRS put you asa dealer then your tax rates are fixed...you cant change them..

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