qbteachmt
Level 15
05-26-2021
12:23 PM
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"The property was rented for less than a year" <== income/expense operation for the Owner of record
"so it is a short-term sale." <== short- or long-term is from Purchase date to Sale Date; not Occupancy dates
You have two different activities, if you don't consider the Flipping as an income activity and instead as investment activity. Do you know the difference, for Flipping?
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers