Question: Christopher is skilled at finding and purchasing properties at sub - market prices. He typically owns these properties for only a few months, making a
Christopher is skilled at finding and purchasing properties at submarket prices. He typically owns these properties for only a few months, making a few upgrades and then flipping them for a profit. Occasionally, he buys a property with a tenant already in residence and receives rent payments before selling the house.
How should this rental income be reported on Christopher's tax return?
Notforprofit income, reported on Schedule Form line j
Business earned income, reported on Schedule C
Investment income, reported on Schedule D
Passive income, reported on Schedule E
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