Two Flips Do I File Cap Gains Or Sch C?

[Brad Warshaw]

If I did two flips last year can I file both as capital gains or would I be considered a dealer and have to do a sch C? Both were held less than a year. Thanks 

[Natalie Kolodij]

Originally posted by @Brad Warshaw:

@sam If for some reason I hold for over a year can it be cap gains?

@Sam Shueh 

No Sam is wrong on this and keeps posting that incorrect information. 

If your intent was to buy, renovate, and resell for profit the time held doesn't matter. 

It's ordinary income tax subject to SE tax.