You have seen house flipping shows on television, if not, you have probably heard of people flipping homes for a profit. But what you have not seen discussed on these TV shows or at the local coffee shop, is what are the tax implication of Flipping a dwelling. In general, flipping is a type of real estate investment strategy in which an investor purchases a property at a low price not to use, but with the intention of quickly selling it for a profit. Where do the transactions go? Will it be Schedule C, Schedule E, Schedule B, Form 8949 and Schedule D, or a combination of these forms? Will expenses and or renovations be capitalized or expensed in the current year? What was your client's intent upon purchasing the property? Is your client an investor or dealer? Can you utilize IRC Section 1031, Like-kind exchange, related to the flipped home? This real estate accounting course will examine these questions, giving professionals the knowledge to appropriately account for house flipping's unique tax implications.