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Flipped Property with a partner -can one partner claim Schedule D and other Schedule C?
I had a partner who does flips very regularly. He is in the real estate business , he has many rentals and also does a lot of flips annually.
I am unsure if he filed the specific flip we worked together on on his Schedule D or Schedule C - and I am questioning if we should both match - if he claimed Schedule C I should prob do the same?
If he claimed schedule D shouldnt I do the same?
He wont tell me what he did ( I asked) and he does not want divulge the info.
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May 9, 2021
3:40 PM