qbteachmt
Level 15
09-15-2024
12:07 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"There was more than likely a 1099S issued"
By the way, I've been seeing under $500,000 sales don't always get a 1099-S issued. There is a list of 4 questions, if I remember correctly, in the closing docs and as long as you answered No to the one regarding having used the exclusion already in the past 2 years, they don't issue a 1099-S. That doesn't make it not reportable, of course.
While improvements to basis might change the gain, it's not an unreasonable gain for that weird timeframe.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers