please see these blogs
https://www.hrblock.com/tax-center/income/real-estate/flipping-houses-taxes/
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.
If you just did ONE flip and are not doing more then it is a Sch D entry otherwise if you do more than one and are doing this to "make a living" then it goes on a Sch C ... please read the info in the links previously posted, talk to a tax pro face to face and/or do some more reaseach on your own.
please see these blogs
https://www.hrblock.com/tax-center/income/real-estate/flipping-houses-taxes/
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.
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.
okay so the home sales are only for my personal under my name sales. This was so confusing. Thank you guys for the help.
If you just did ONE flip and are not doing more then it is a Sch D entry otherwise if you do more than one and are doing this to "make a living" then it goes on a Sch C ... please read the info in the links previously posted, talk to a tax pro face to face and/or do some more reaseach on your own.