I purchased a flip in 2018. If I put on market in 2019, can I use the deductions? Can I use deductions from 2018 when I sell in 2019?
What sort of deductions? If you 1031 exchange, you shouldn’t need writeoffs anyway.
Hi, Jane –
You can most likely use the deductions, but you may not be eligible for long-term cap gains rates. This doesn’t stop you from deducting expenses. Please check out our article “Top 12 Rental Property Tax Deductions and Benefits 2019” for more information.
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