alaskan1001
New member
What is the name of your state? Alaska
My friend and I bought a duplex to flip in Alaska, fixed it up and are selling it. My friend did an interest only loan and bought the place out right. I took out a $45,000 loan for the repairs. We both stand to make $25,000 - $30,000 a piece. Do I have to pay capitol gains on the profit? If so what percentage? Thanks
My friend and I bought a duplex to flip in Alaska, fixed it up and are selling it. My friend did an interest only loan and bought the place out right. I took out a $45,000 loan for the repairs. We both stand to make $25,000 - $30,000 a piece. Do I have to pay capitol gains on the profit? If so what percentage? Thanks