A schedule C is Busness Loss/Gain form you can find at your tax office. You need to file it with your taxes. Remember since you are in business of RE you are able to make a lot of deductions that can help offset your profits, thus cutting down your taxable income.
All tax forms can be found on the IRS site www.irs.gov. You need to search for questions on the site, and related answers will indicate the forms you need to use. Also any tax software for the current year, such as TurboTax2004, will have the necessary forms. Contact a tax CPA who invests or works with investors to give you the latest benefits and deductions available for your particular case.
It's regular Schedule C income (unless you do so through an entitity of some sort).
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thanks lease option where do i get this form? and how do i fill it out?
A schedule C is Busness Loss/Gain form you can find at your tax office. You need to file it with your taxes. Remember since you are in business of RE you are able to make a lot of deductions that can help offset your profits, thus cutting down your taxable income.
Jar
All tax forms can be found on the IRS site www.irs.gov. You need to search for questions on the site, and related answers will indicate the forms you need to use. Also any tax software for the current year, such as TurboTax2004, will have the necessary forms. Contact a tax CPA who invests or works with investors to give you the latest benefits and deductions available for your particular case.