Flip property is in irrevocable trust
How does flip tax work if the property which is less than an year owned and not a primary residence in irrevocable trust? How much tax % is it? Thank you
Thanks for your question. Unfortunately, we can’t give specific advice on real estate taxes. I would recommend consulting with a real estate attorney in your state. We do have a guide on rental property tax benefits and deductions that you may find helpful.
Best of luck,