How do I report house flipping on 1040? Can they qualify as Investor? OR are they a Dealer? Where does a Dealer report the transactions?

[sjrcpa · Accepted solution]

The facts determine if they are a dealer or investor.

Dealer would report on Schedule c. Investor would report on ScheduleD/Form 6949.

[itonewbie]

@Sam2638 Susan meant F.8949.

[Sam2638]

Thank you for your response.  How do I determine Investor v. Dealer?

[sjrcpa]

Yes I did mean 8949.

[itonewbie]

:smile:

[itonewbie]

If you want more elaborate discussions, you'd find them here: https://accountants-community.intuit.com/search?filters%5Bcountry%5D=US&filters%5Bdocument_type%5D=Q...

As Susan says, it depends on facts and circumstances.  It's the same assessment you make as to whether these activities constitute a ToB.

[Sam2638]

Thank you both for taking the time to provide guidance.

[itonewbie]

NP, @Sam2638.

[sjrcpa]

You're welcome.