What letter do I put for the sale of ground on the shedule d
I thought you said 11 - or were you talking football instead of taxes? 😜
no it is not farmland it is land they had and sold to people who are going to build a house
I would say long term capital gain, unless they are in the business of selling land and they have lots that are inventory then ordinary gain. It does sound like private land, I quess the letter is L for long term with basis not supplied to the IRS, not sure about the 1099-S or B question.
Yes this was a 1099-s but the choices on the schedule d are only a thru f
The letters you are referring to are exceptions, just enter the sale in the worsheet and say yes for 1099-B even though it is a 1099-S.
Thank you so much for this answer
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