If a person receives a 1099S for the sale of his personal residence do I include the payoff amount as part of his selling expenses?
Sincerely,
Cindy
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Payoff amount as in the mortgage?
Umm.... No.
Well, not unless your "client" reported that loan as income when they got it ?s
abctax55,
Thank you for your response.
Sincerely,
Cindy
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