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Level 2
posted Mar 18, 2025 1:07:26 PM

Where to report sale of an investment real estate property under single owner LLC

It's a flipped property bought and sold in less than a year.  I'm using the home and business tax version.

I don't see an option under business income to report this type of property for the 1099-S I received.

Thanks in advance for the help. 

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1 Best answer
Expert Alumni
Mar 18, 2025 1:18:44 PM

You enter that in the business section. You will see a screen that says Let's gather your business info. Choose the option that says Sale of Business Property, under Less Common Business Situations:

 

1 Replies
Expert Alumni
Mar 18, 2025 1:18:44 PM

You enter that in the business section. You will see a screen that says Let's gather your business info. Choose the option that says Sale of Business Property, under Less Common Business Situations: