Thank you for your answer. I asked this question below but wanted to add that I am a RE Investor, not Dealer in a 2 member LLC filing a form 1065.
If we issued a 1099 to a non-corporation worker (landscaper, drywaller, etc) in 2024 but haven't sold the house yet, do we list the amount the 1099 was issued for anywhere on the 2024 taxes or do we wait until we sell it and add it to the cost basis?
Thank you.
