If I sell my house and make no money on it, do I have to even report the sale to the IRS? AM
If I sell my house and make no money on it, do I have to even report the sale to the IRS? It depends. If this is a hypothetical, see the instructions for Forms 1099-S and 1040. If you sold already, how was tax reporting dealt with at closing?For the details about the tax treatment of sale of principal residence, see Publication 523.PhilRule Your Retirement Home Fool
Thanks - seems like (just looking at instructions for Schedule D) we would not have to report it at all. We've never made a dime on real estate. :(AM
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra