Buying/selling realestate. What forms do I need to submit to the state and IRS to show money recieved or paid.?
September 20th, 2009 | by admin |I will be buying and selling real estate in California. Is there any specific forms to report to the appropriate tax agency the amount of income in the case of a sale or the amount I paid in casa of a purchase? Or am I not required to report this?
Most likely schedule D.
If you can demonstrate you are a trade or business, schedule C.
Either way, profits are reported.
One Response to “Buying/selling realestate. What forms do I need to submit to the state and IRS to show money recieved or paid.?”
By v b on Sep 20, 2009 | Reply
Most likely schedule D.
If you can demonstrate you are a trade or business, schedule C.
Either way, profits are reported.
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