Client purchased a property in a property on 03/15/2022 to rehab and sell. Last year they spent about $120,000 on materials/supplies, etc.… The question is do I put this on schedule C with PAL (Passive Activity Loss) and wait until the property sells to add the income and other expenses, if not do I wait to use From 4797 and fill in the Gross Sales Price, Cost & Expenses etc? Thanks