CMS_VA_CPA
Level 3
12-07-2019
02:30 AM
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I am leaning towards Schedule C based on information provided-
1. TP has done this multiple times
2. TP bought the land with the intent to build and sell.
3. TP acted as a general contractor and provided the construction plans- "His participation involved finding subcontractors for the plans, pretty much". TP apparently monitored the work and approved payments- both progress payments and final.
4. The fact that he used a realtor to sell the property does not change the character of his actions above.