Anonymous
Not applicable

Deductions & credits

the question becomes how did you report the sale of the property?   What type of property?  was this your home that you sold at a loss?  or a profit that exceeded the excludable gain?  if there was a taxable profit how was this reported?  you see depending on what occurred when you sold and how it was reported will determine what portion, if any, of the lump sum payment is taxable.