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  • Re: Flipping in Rio - Tax Implications
      • (Login Bluster2000)
      Forum Owner
      Posted Aug 18, 2007 12:03 AM

      Hello Ricardo,

      Thank you for your kind comments.

      I am not sure about US tax implications, you are better off consulting a US-based CPA. In Brazil, you will have to pay capital gains tax - 15%. Of course, there is a depreciation (about 4% per year) and you can add the amount spend on the renovation (or a part of it) to the acquisition sum. There are actually ways to reduce your overhead...

      If you own only one property under R$440K and hold it for more then 5 years, you will be exempt of the Capital Gains tax all together.

      Overall, Brazil is not conducive to flipping. Liquidity is not nearly as good as it used to be in the States.

      Regards,
      Boris
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