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Level 1
March 10, 2021
Question

Utility easements reported on 1099-S, are they treated as a reduction in basis

  • March 10, 2021
  • 1 reply
  • 7 views

I have a 1099-S for the payment of a utility easement.  Is it reported as a total gain or as a reduction in basis in the property?  

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1 reply

IRonMaN
Level 15
March 10, 2021

Most folks use them to reduce basis

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