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Report or not -sale of Primary residence

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    #1

    Report or not -sale of Primary residence

    How many of you report the sale of primary residence when the exclusion applies. What if taxpayer recieved a 1099?
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    #2
    Originally posted by gman View Post
    How many of you report the sale of primary residence when the exclusion applies. What if taxpayer recieved a 1099?
    Should client receive a 1099, you'd better report it; or else. (grin

    Otherwise, no reporting required.
    ChEAr$,
    Harlan Lunsford, EA n LA

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      #3
      The reporting rule changed recently. Chears is right a 1099s requires it be reported or the IRS will send a cp2000 letter.
      Believe nothing you have not personally researched and verified.

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