Hal_Al
Level 15

Get your taxes done using TurboTax

Most likely, you report it as a capital gain on form 8949 and Schedule D.  Alternatively, you report it as a  business profit on Schedule C.  

 

For more info, in making that determination, see a similar question at: https://ttlc.intuit.com/questions/3399983-tax-issues-regarding-flipping-of-a-house 

And references at:

https://www.hrblock.com/tax-center/income/real-estate/flipping-houses-taxes/

https://fitsmallbusiness.com/taxes-on-flipping-houses/  https://www.lendinghome.com/blog/how-to-maximize-house-flipping-tax-benefits/

 

 

Additional earned income, after reaching full retirement age, will not affect your SS benefits.  If you were born in 1955 your full retirement age is 66 and 2 months.  Investment income  does not affect your SS benefits, at any age.