I am a realtor in California and I bought a house as an investment then resold it 366 days later for a profit. Can I count the gain as capital gains or must I count it as ordinary income since I am a realtor? I put about $50,000 into the property before reselling it, including repairs and improvements. I am not a contractor or handy person and I did not do the improvements myself, I hired them out. I never lived in the house nor did I rent it. I thought about keeping it as a rental property but since the real estate market was so hot I decided to sell it instead. I owned it exactly 366 days. Other information in case it is relevant: I have never flipped a house for a profit before, however, in 2019 I flipped a house at a loss...that was the first time I ventured into flipping, but because I did not make money that time, over the next three years I focused instead on selling homes as a realtor (to other people). It wasn't until summer of 2021 that I bought another property myself as an investment, which as I mentioned, I just sold 366 days later. Thanks in advance for your help.
