My S-Corp business flips real estate. In TurboTax Business, how do I record inventory and sales of real estate from 1099-s with adjusted basis for my income/loss?

[dbreeder1960]

Our s-corporation's main business is buying, renovating, selling houses.  No rentals involved.  How do I record 1) The purchase of a house (inventory), 2) Sale of the house (from received 1099-s from the Title Company, 3) Record adjusted cost basis' (to determine profit or loss), 4) Have the inventory removed from my balance sheet, and finally 5) Recorded on our K-1s?   I am using TurboTax 2017 Business Partnerships, Corporations, LLCs, Trusts & Estates tax software.  Thanks.

[TaxGuyBill]

There should be places for "Inventory" and 'General Sales Income'.  That should cover it all.