Hello I had a question on this if my only bussiness is flipping land and I have a llc but am the sole owner I would only be filing the 1040 and will enter this income through the 1040 c and in the other income on the 1040 my question is my revenue would be the total land I sold with the profit but as per the inventory I have more land that I didnt sell say worth 400k would i put this entire amount as inventory and deduct it from the figure of other income?
