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Taxes on Flipped House
I am finally doing my 2019 taxes and have a few questions on a house we have flipped. We bought the house in December of 2019 and it will sell this month (September 2020). My wife and I both have full time W2 jobs, so we just did this on the side.
1) When we go to do our 2020 taxes, what forms should we use for the sale?
2) Do we need to include anything on the house on our 2019 taxes since we purchased the house in 2019? We really didn't have any expenses in 2019 other than mortgage interest and property taxes.
Thanks!
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‎September 12, 2020
10:25 AM