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Marvin,EA
Marvin,EA, Enrolled Agent
Category: Tax
Satisfied Customers: 1672
Experience:  Enrolled to Represent Taxpayers Before The IRS
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My client is a sole proprietor of a construction company ...

Customer Question

My client is a sole proprietor of a construction company that buys property, either builds a house or rebuilds it. He gets a construction loan to pay for expenses. He then sells the property. How do you report this?
Submitted: 8 years ago.
Category: Tax
Expert:  Marvin,EA replied 8 years ago.
Hello and thank you for using Just Answer. Since the property are held primarily for sale to customers, the sale will be report on Form Sch. C with all of his expenses.
Marvin,EA and 2 other Tax Specialists are ready to help you
Customer: replied 8 years ago.
Thank you, XXXXX XXXXX I thought

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