Client is a 1065. They buy real estate and they do construction and then flips them. The properties were never used as rental properties, just purchased, built, and then sold. What is the best way to enter these into proseries, so they flow to the proper schedule to show gain/loss from real estate sale.
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Sounds like sale of inventory = ordinary income.
Sounds like sale of inventory = ordinary income.
Same house? And the same answers still apply:
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