Can a tax loss from flipping a condo be used to ofset other real estate income?
If you buy a condo to rehab, flip, and sell it 15 months later at a loss can you use the loss as a deduction to set off other income?
Great questions! It depends on the structure of your other real estate investments. It’s best to consult with a Certified Public Accountant (CPA) or enrolled agent (EA). She/he would be best qualified to answer that question after reviewing your entire financials.
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