ilmscore | Home flips Predictions

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Accuracy

Recent Predictions

Total: 3

Correct: 0

Incorrect: 0

Pending: 3

Unrated: 0

Prediction

Author

Predicted at

Status

Video

Profits from home flips will be taxed at ordinary income rates and subject to self-employment tax, not capital gains rates.

"it's taxed at regular ordinary income rates and it's subject to self-employment tax as well"

Feb 5, 2019

Pending

Home flip profits will be reported as ordinary income on Schedule C, not as capital gains on Schedule D.

"it's not going to go on the the Schedule D it's not going to be a capital gain it's gonna be regular..."

Feb 5, 2019

Pending

A flipped home is considered inventory for a business, not an investment, when conducting a flip transaction.

"the house is like your inventory so it's a business it's not an investment"

Feb 5, 2019

Pending