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Get your taxes done using TurboTax
The thing is that I get 1099-S, so I have to report the sale, and if it is to a related party, the gain is taxed as an ordinary income. In my case the gain will be less than $250K.
So, how Turbotax will know that it should be taxed as ordinary income, and how will it apply the $250K exclusion.
‎April 1, 2021
6:57 AM