I bought and sold 3 homes in 2022. I received 1099-S for all 3. I am only allowed to enter 2 of them where would I enter the 3rd sale. I am using Premier.
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What type of homes were these? Your primary home? Secondary or investment properties?
If they are secondary or investment properties you would enter them by selecting the following:
I flip homes so they are not primary homes. I only hold them for about 6 months before selling them.
The IRS classifies individuals who actively purchase and remodel real estate for profit on a continuing basis as dealers rather than investors. For these people, the real estate is treated as inventory, rather than capital assets, and the profits on the sale of those properties is treated as ordinary income, subject to the self-employment tax.
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