Dealer across the board
If I have 5 houses in an scorp and they have been held for different periods of time, between 0 ad 3 years, and based on previous transactions the IRS determines I should classified as a dealer, does that effect all the properties I own in the Scorp. Some are long term rentals.
In addition, if I held 3 homes in a different entity, LLC, at that time, would they also be impacted?
Thanks,
In addition, if I held 3 homes in a different entity, LLC, at that time, would they also be impacted?
Thanks,