Real estate dealers are in the business of selling real estate. They report income, cost of sales, and expenses on Schedule C.
Real estate investors report gains and losses from selling investment real estate as long- or short-term capital gains.
Wendell Garrison claimed that he sold investment real estate when he sold
Eight properties in 1998,
Four properties in 1999, and
Four properties in 2000.
Oops Number 1
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