I prepare my daughter and son-in-laws taxes, but they are complicated this year. He started a house flipping business and bought and sold the first house under his name and SSN so it would be on Schedule C. He formed a LLC and bought and sold the second house. Would this go under a separate Schedule C under the business name and EIN? He then filed the papers to make the LLC a S Corp. He bought and sold 2 more house that would be included on form 1120S. He received a 1099S and state taxes were withheld on the first 2 houses but not the other two. We are in California. Is this the correct way to account for the 4 sales?
