I flipped a severely distressed house in less than a year, will my massive profits be taxed as ordinary income or short-term capital gains?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

A distressed-house flip can raise several tax classification questions, and the result often depends on how the property was held, the level of renovation work involved, and whether the activity looked more like a business than a passive investment. In many cases, short holding periods and repeated  For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.