I am reporting the total proceeds from 1099-S received from sales of property on Schedule C Part I-Line 1
I am reporting income on Schedule C since the proceeds were from real-estate flipping activity- I am classifying my activity as a "dealer" not investor.
Do I need to attach statement to tax return explaining why 1099-S total is on Schedule C and not on Schedule D to IRS?
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What return are you filling in ? A 1040 with a Sch C ? Or an 1120-S ?
I'm filing 1040 with Schedule C
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