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T/P purchased a home in 2015 to fix up and sold in 2016. It was never rented and taxpayer never lived in it. Do I report this sale
on Form 4797 or Sch D? Thanks.
Roy
T/P purchased a home in 2015 to fix up and sold in 2016. It was never rented and taxpayer never lived in it. Do I report this sale
on Form 4797 or Sch D? Thanks.
Roy
Sch D if this is a one off thing. However if the taxpayer is a professional flipper then 4797 and Sch C.
Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR
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