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Updated about 9 years ago, 11/06/2015
I need a mortgage, how do they prefer taxes to be filed?
I am a small time real estate investor flipping vacant land. This is my full time "job," only income and I am looking to get a mortgage for a house soon, but first I must file two years taxes to qualify. How do you full time investors (without another job) file taxes in which would be acceptable to use as income for a mortgage? Is there a better way to file the profits than just as short term capital gains? Can you somehow claim it as "self employed" instead of just capital gains to make it more official on paper? Are there any computer programs you recommend, or what forms do you use? Thanks in advance and sorry for the questions (I'm new to the tax world.)