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Deductions & credits
Depending on who handles the closing of a property sale in your state you may or may not receive a Form 1099-S. Speak to your closing attorney or realtor to see if a 1099-S is being sent. But do not request one if not needed.
Since you have sold at a loss then the sale is not reported on a federal tax return, assuming that the home was never used as a rental or in a business.
If you do receive a Form 1099-S then the sale has to be reported regardless if you had a loss on the sale.
Since you have sold at a loss then the sale is not reported on a federal tax return, assuming that the home was never used as a rental or in a business.
If you do receive a Form 1099-S then the sale has to be reported regardless if you had a loss on the sale.
May 31, 2019
5:00 PM