S
Steve Sitter
I bought a house in 2011 as an investment, incurred expenses while
rehabing, but I didn't sell it until 2012. Do I list all my expenses
through Dec 31, including the purchase price, on the 1040 business
expense form? (I'm an LLC.) If I do, that greatly skews my adjusted
income, allowing a huge refund. If so, then do I just list the gross
sale amount on my 2012 taxes next year and pay more in taxes?
Thanks
rehabing, but I didn't sell it until 2012. Do I list all my expenses
through Dec 31, including the purchase price, on the 1040 business
expense form? (I'm an LLC.) If I do, that greatly skews my adjusted
income, allowing a huge refund. If so, then do I just list the gross
sale amount on my 2012 taxes next year and pay more in taxes?
Thanks