Questions For Rehabbers IRT Taxes
I have a question regarding Rehabs...I purchased a house Sub2; after fix-up costs in labor and materials and leasing out the house to an end-user. How will the money I paid out in the fix-up and the money received from my TB affect my personal taxes. I acquired the property utilizing a Land Trust. I know this is mainly a question for my CPA but just curious about how other rehabbers have handle this issue at tax time.
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