Are 1099-S always issued for easements?
I know how to treat the issue but in the past I usually see a 1099-S issued for easements.
I have older clients that got a check from the city to take land for right of way on their rental property. Clients said they gave me everything in regards to it. Well I only have a check stub showing they received the money.
Would it cause any problems to go ahead and put it on Schedule D even though a 1099-S might not have been issued?
I feel like it would be best to play it safe as there really might have be one.
I know it lowers their basis in the property.
I know how to treat the issue but in the past I usually see a 1099-S issued for easements.
I have older clients that got a check from the city to take land for right of way on their rental property. Clients said they gave me everything in regards to it. Well I only have a check stub showing they received the money.
Would it cause any problems to go ahead and put it on Schedule D even though a 1099-S might not have been issued?
I feel like it would be best to play it safe as there really might have be one.
I know it lowers their basis in the property.