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Updated over 4 years ago,

User Stats

399
Posts
222
Votes
David de Luna
  • Rental Property Investor
  • NorCal
222
Votes |
399
Posts

List purchased properties on Schedule C not yet sold?

David de Luna
  • Rental Property Investor
  • NorCal
Posted

I have been told by a number of CPAs that it's fine to go either way whether to list properties I purchased and have invested/rehabbing them, but have not yet sold in 2019 tax year. Either list them under inventory on the Schedule C or not list them at all until sold in 2020. Any other wisdom on this? I have a number of houses I bought in 2019 that have not yet sold but I've pumped a lot of money into them in 2019, 2020. I did list a few of them and see in TurboTax that it does near nothing on my tax refund (enough losses due to a lot of new activity in 2019).

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