Contract assignments and the IRS

How does one go about handling taxes for someone who makes a living assigning contracts and not actually buying property? WOuld this be considered dealing

It could be considered dealing. That’s why you you need to assign contracts in a separate entity. This way if you are accused of being a “dealer” it would only effect that entity only. The long term properties should be held in a separate entity so they won’t be effected. Good luck.