Discussion Archives:Gain from LLC

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Discussion Forum Index --> Advanced Tax Questions --> Gain from LLC

Discussion Forum Index --> Tax Questions --> Gain from LLC

Taxcpa (talk|edits) said:

27 November 2009
A & B formed a LLC and buy and sell residential house. The gain from sales will be treated as capital gain or ordinary income. If the total transaction is less than 7, shall they treat as investor not dealer?

Also, does the income subject self-employment tax?

Death&Taxes (talk|edits) said:

28 November 2009
The type of entity does not matter, so use the little search box to the left and type 'flipping' into it. You will find all the opinions for which you could ever wish.
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