mcd1231
Level 4
10-12-2021
11:56 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My clients are not house flippers but when the right opportunity arose to buy a house for a really good price, they jumped on it. They purchased a run down house and renovated it. It took over 2 years to renovate it and then they sold it at a profit. Since they are not flippers and do not intend to do it again, will I report this sale on Schedule D and not C on their 2021 taxes? ( just trying to stay ahead of the game here)
Labels
This discussion has been locked. No new contributions can be made. You may start a new discussion here
1 Comment 1
Just-Lisa-Now-
Level 15
10-12-2021
12:19 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Sch D
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪