Re Investor
“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?”
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 flipping activity point toward ordinary income treatment, while other facts can support capital gain treatment. The purchase intent, the scope of improvements, and how the sale was reported in the records are often central to the analysis. Working through the specifics with a CPA is the cleanest way to land on the right move.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I successfully refinanced my investment property and pulled out cash to buy another one, is that massive cash out legally considered taxable income?”
“I regularly rent out a spare room in my house on Airbnb, how do I accurately report the income and what specific household expenses can I legally deduct?”
“I sold a rental property that I fully depreciated over the last twenty years, how exactly does depreciation recapture work and how much will it cost me?”
“I bought a duplex and live in one half while renting out the other, how do I properly split the property taxes and depreciation on my tax return?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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