Reduced Sales Price not reflected on tax statement

Gretel

Senior Member

Join Date: Jun 2005

Posts: 4008
#1

Reduced Sales Price not reflected on tax statement

01-23-2007, 06:54 PM

Closing statement shows an amount for a credit to buyer for termite damage. Since I better report full sales price per tax statement I add this credit as selling expenses to my basis?
I am sure this is the way to do it but please someone confirm.
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BOB W

Senior Member

Join Date: Jun 2005

Posts: 4061
#2

01-23-2007, 07:41 PM

I .........

.............. agree in full.

This post is for discussion purposes only and should be verified with other sources before actual use.

Many times I post additional info on the post, Click on "message board" for updated content.
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