I tried to flip one house this year and ended up losing money on it (more than 3k). How can I go about reporting this loss?
Do I,
1. Complete a schedule C? Or
2. Report this as an "Investment Income/Loss" which is limited by the 3k investment loss limit?
I think reporting the loss on schedule C might provide me with the most tax benefit right away, which would be helpful at the moment, but I'm not sure if this is technically correct.
