I’m an independent computer consultant who nets $100,000 from my proprietorship.
I bought a house in March 2019, fixed it up, and sold it in April 2020 at a net profit of $85,000.
I bought another house in May 2020, fixed it up, and sold it in June 2021 at a net profit of $125,000.
These are my first two properties. Does the IRS consider me a real estate dealer or a real estate investor?
This is a tough call.
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