If this is a "one-off" (i.e., you are not planning to flip on a regular basis and it does not rise to the level of a trade or business), then you can report the transaction as a capital transaction (Form 8949/Schedule D).
The main issue here is, even if there is capital gain, the gain is short-term because you did not hold the property more than one year. As a result, you cannot take advantage of the long-term capital gain tax rate structure (although you can use capital losses to offset capital gain) but are subject to the ordinary income tax rates.
Regardless, you would avoid the self-employment tax on the net profit if the sale at a gain is reported as a capital gain.
