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Level 2
October 4, 2022
Solved

Flipping homes

  • October 4, 2022
  • 1 reply
  • 13 views

When you flip homes as a business do you add it to the SCH C or do you add it to sch d on the home sales? 

1 reply

Level 2
October 4, 2022

I have a LLC, I used it to purchase the house and sell it. Should I used the SCh C portion or the SCh D. 

Critter-3
Level 15
October 4, 2022

If this is a single member LLC that did not incorporate  and you are in the business of flipping homes it goes on the Sch C.