Funding For Rehab Flip Tax Question
My friend has owned a home for 3 years already, and now wants to sell. I want to help them by paying 100% of all the rehabbing costs, and let them be in charge of everything from start to finish. All I want in the end is the 50/50 profit split when the house is sold. Basically, all I would do would be to give them money, and get a return in the end. I have never even been to their property, and have a regular 9-5 job.
My question is how do I exactly report this profit to the IRS? Is it Schedule D?