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Should this be listed as a business?

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    Should this be listed as a business?

    Ths person brought a house fixed it up and sold it . This is his first time . He received a 1099s. Therrell

    #2
    that's called " flipping a house". and there is usually a gain on the sale. Need to ask more questions on flipping houses.

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      #3
      Originally posted by Therrell123 View Post
      This is his first time .
      Does that imply there will be more times?

      You need to know if this is going to be a continuous thing (which would likely classify it as a business), or if it is a random, seldom occurring (or one time only) thing.

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