@ACtaxpayer wrote:
I definitely want to use Schedule C to report this flip since I had a loss from it and it will offset other income I had as a realtor
It doesn't matter what you "want". It is a matter of facts-and-circumstances. If you are in the "business" of flipping homes, it goes on Schedule C. If not (such as it is a one-time thing or only an occasional activity), then it does NOT go on Schedule C. It would be reported as an Investment Property.
It is rather unusual that it was at a loss (even more so because you are a realtor). Are there any extenuating circumstances involved? Was it sold at Fair Market Value? Those questions may change how it needs to be reported.
