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I bought a house & flipped it 2 months later. This was a one time deal. I' m not in the flipping business. What SELLING expenses can I write off & where to I enter them?
The1099S showed gross proceeds. I paid $35625 in realtor fees, $900 in real estate taxes, $5625 in transfer tax and $80 misc. fees (notary, courier). Can all of this be expensed? Is any/all of this subject to the 2% rule for misc. deductions? Where do I enter my expenses on Turbo Tax Premier?
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‎June 6, 2019
10:42 AM