Yes if they are in the business of flipping.  But is it is only one instance is not considered to a be an investment in a capital asset and reported as such?

YOU need to determine what the intent was....and using "flipping" and capital asset to describe the same transaction is confusing.

ONE time, with no intent to do it again = probably a capital gain/Sch D

One time, with the intent to do it again & again = Sch C.

Does your client have a contractors license?  Does your client have a full-time job?

can you elaborate on reporting sale of several "flipped"  house on schedule c?

 

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@CL44 wrote:

can you elaborate on reporting sale of several "flipped"  house on schedule c?

 

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See your main post:

https://proconnect.intuit.com/community/tax-talk/discussion/flipping-houses/01/166240