Avoiding taxes when flipping from auction - Posted by DJR-NV

Real Estate Investing Auctions
1

Posted by Dave T on March 01, 2002 at 11:48:23:

I assume your question is referring to Federal and State income taxes on the profits.

In this context, the short answer is NO. All your profits are taxable regardless of the name on the deed.

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Avoiding taxes when flipping from auction - Posted by DJR-NV

Posted by DJR-NV on March 01, 2002 at 10:54:42:

Hello,

I purchased a property for cash at a Trustee’s Sale this week and I have another investor willing to buy it from me for a small profit (3K-5K).

The deed is being sent directly to me from the trustee and has not arrived yet. Is there a way I can change the name on the deed before I record it and not have my name appear on record and therefore avoid paying taxes on the small profit?

Thanks for any ideas,

Good investing to you all.

DJR-NV