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Updated over 3 years ago,

Felix K.'s profile image
Felix K.'s profile image
Felix K.
  • Real Estate Investor
  • from Harker Heights, Texas
  • Member since Jan 16, 2015
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Felix K.'s profile image
Felix K.'s profile image
Felix K.
  • Real Estate Investor
  • from Harker Heights, Texas
  • Member since Jan 16, 2015
Connect
Felix K.
  • Real Estate Investor
  • Harker Heights, TX
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Texas Real Estate Q&A Discussion Forum

Is it an Investment or Business for tax purpose?

Felix K.
  • Real Estate Investor
  • Harker Heights, TX
Posted

I bought an investment house, closed on 12/31/2019, after fixing it up, sold it in mid June 2020.  On 12/1/2020, I bought another house, and it's leased out since.

On my 2020 tax return, should I report the 1st house as an Investment income rather than a Business income?

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