What is the name of your state (only U.S. law)? North Carolina
I own 3 rental properties.
I bought a house at a foreclosure auction in January 08, fixed and sold it in May 08. I bought this property with the intent to sell (not to rent). I made a decent profit during this transaction.
I plan to bailout of stock market before end of this year and will take a loss on my stock market investment. Will I be able to use the losses in the stock market to offset the gains I made in flipping the house?
Is there any links where this type of topic has been discussed?
Appreciate some help..