Received a deed in lieu of foreclosure on a property I held a note on. Immediately sold the property and had a loss on the sale. What form do I use to report the sale?
Received a deed in lieu of foreclosure on a property I held a note on. Immediately sold the property and had a loss on the sale. What form do I use to report the sale?
I am using ProSeries Professional on Windows 10. I filled out form 6252 but instructions are not to file it with the return if there is a loss. I have to show the sale on my return because the sale is being reported to government. Which form or worksheet do I show the sale?
But you may not have a loss to report because you might have a gain resulting from getting the property back in the foreclosure. You might want to do a little research on the issue before proceeding.
But you may not have a loss to report because you might have a gain resulting from getting the property back in the foreclosure. You might want to do a little research on the issue before proceeding.
Just a fact clarification: you sold it on installment method, got it back and again sold it on installment method? Another clarification: there may be more than just a little research needed.
I apparently wasn't clear on my question. All I wanted to know was how specifically to open a form 8949 in ProSeries. I was having trouble getting the form to open. I have since researched it more and finally got the form to open. Thank you for your responses.
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Cheers
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