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Tax Loophole Alert!
Are you handy? Do you like interior design? Have you considered (or do you currently) flipping residential real estate?
Here's how to pay ZERO tax on your real estate flips!
***Thread***
Are you handy? Do you like interior design? Have you considered (or do you currently) flipping residential real estate?
Here's how to pay ZERO tax on your real estate flips!
***Thread***
Buy your fixer-upper house to flip.
Move in.
Make repairs and upgrades. Do whatever you do when you flip a house.
Stay exactly two years (or more).
Sell for a huge gain.
Pay $0 tax on the gain!
Repeat every two years.
It's called the home sale exclusion.
Move in.
Make repairs and upgrades. Do whatever you do when you flip a house.
Stay exactly two years (or more).
Sell for a huge gain.
Pay $0 tax on the gain!
Repeat every two years.
It's called the home sale exclusion.
Think about it...
If your sole income is from flipping residential real estate, you could have a 0% tax rate (US).
Insane!
Q: How many times can I do this?
A: Once every two years. No lifetime limit.
If this was valuable to you, please RT so your friends can see it, too.
If your sole income is from flipping residential real estate, you could have a 0% tax rate (US).
Insane!
Q: How many times can I do this?
A: Once every two years. No lifetime limit.
If this was valuable to you, please RT so your friends can see it, too.
This thread above is the kind of idea a good tax advisor should be generating for you. https://twitter.com/AskForTaxAdvice/status/1308489679176708097?s=20
