» Buying/selling realestate. What forms do I need to submit to the state and IRS to show money recieved or paid.?

Buying/selling realestate. What forms do I need to submit to the state and IRS to show money recieved or paid.?

I will be buying and selling real estate in California. Is there any specific forms to report to the appropriate tax agency the amount of income in the case of a sale or the amount I paid in casa of a purchase? Or am I not required to report this?

Most likely schedule D.

If you can demonstrate you are a trade or business, schedule C.

Either way, profits are reported.

This entry was posted on Thursday, September 17th, 2009 at 3:24 pm and is filed under buying realestate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Buying/selling realestate. What forms do I need to submit to the state and IRS to show money recieved or paid.?”

v b Says:
September 17th, 2009 at 9:07 pm
Most likely schedule D.

If you can demonstrate you are a trade or business, schedule C.

Either way, profits are reported.
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