Tax Write-Offs For Wholesellers

Hi:

I am a rehabber who is trying to break into the Wholesaling business. Of course there is a lot of write-offs when refurbishing homes and/or renting.

However, when wholesaling, if I understand the concept correctly, the wholesaler never actually takes possession of the property. In that case, what can be written off to negate some of the gains?

dlmcgill

If you run the effort as a proper business then any legitimate expenses for the production of income should be available. Auto expense, research expense, office supplies, home office expense etc. I’m sure the tax pros will weigh in on this.