1099-S for land sale
Rustyhurley86
Member Posts: 1 Newcomer
in Income
I purchased a home in 2022 that had a large side lot contained within the boundary. The land was subdivided in 2024 and an additional lot was created and sold in 2024. The lot was sold for 180,000 but gross proceeds on 1099-S says 90,000. I’m unsure what to put for the land value of land at purchase.
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