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celracpan@hawaii
Level 1
August 6, 2022
Question

This is a sale of land in quam w/1099-s

  • August 6, 2022
  • 2 replies
  • 20 views
shall i have to used schedule d and this is a capital gain( long term gain)  how would i know the  cost. The 1099-s owner a
deseased on 05-03-2021.
This topic has been closed for replies.

2 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
August 6, 2022
Property sold prior to death? Whos in charge of the deceased estate (who engaged you to prepare the return)?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    BobKamman
    BobKamman
    Level 15
    August 6, 2022

    I first thought "in quam" was a Latin expression, perhaps from the Napoleonic Code and used only in Louisiana,  related to sales by decedents or estates.  Then it occurred to me, perhaps after watching the John Oliver video last night, that the land was "in Guam."  (Oliver pointed out that "GUAM" looks like a graphic from the old Batman series where "BAM" and "POW" would flash on the screen at appropriate moments.)

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