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texhammer
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Do I need to calculate depreciation on improvements for a flip house that was bought and sold in the same year (2016)?

 
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PaulaM
Expert Alumni

Do I need to calculate depreciation on improvements for a flip house that was bought and sold in the same year (2016)?

No, if you flipped a house for profit, then how you record that profit will depend on if this is a one time endeavor or if you are engaged in a business. However, you will not be depreciating the home under the Rental section.

See link below for tax treatment.

https://ttlc.intuit.com/questions/2795603-where-do-i-file-the-profits-from-a-house-flip-i-have-the-d...

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