TaxGuyBill
Level 15

I agree that something seems wrong or suspicious about those numbers.

If you were told it was worth $40,000, it does not make sense to sell it for $18,000.  While a slightly lower cost would be a good reason for a quick sale, there is something wrong with that large of a difference.

Was it sold to a related party?  Are there any other circumstances involved about why it was sold for WAY less than the appraisal?