Let $V \neq \{0\}$ be a K-vector space and let $P : V \rightarrow V $be linear. Furthermore, let P be an involution, i.e. $P (P(x)) = x $ for every $x \in V.$
Show that if $P \neq ±id,$ then $V = Eig (P,-1) \oplus Eig (P,1)$, i.e. one can write ever element $v$ of $V$ as the sum $v_1 + v_2$ of elements $v_1 \in Eig (P, -1)$ and $v_2 \in Eig(P, 1)$ and that $Eig (P, -1) \cap Eig (P,1) = \{0\}$
Since $P^2(x)=x$, we now that $P^2-I=0$ and hence the minimal polinomial of $P$ divided $(x-1)(x+1)$. Since $P\neq \pm I$ we conclude that the minimal polinomial is indeed $(x-1)(x+1)$.
From here $P$ is diaganizble with eigenvalues $\pm 1$. Take it from here.