First time tax question

[Roger Skove]

So my business partner and I bought a house to flip in October of 2017 and plan for it to be ready for sale spring 2018. My accountant wants me to claim a loss on my 2017 ret then I’ll basically have to buy another project after we sell so it doesn’t look like I made A LOT more than I actually did. We bought the house in our names then shortly after formed an llc but the house is currently in our names. Everything is in NJ. Is this the best course of action. Do I even have any other (legal) options? Any advice would be greatly appreciated!