JotikaT2
Employee Tax Expert

Deductions & credits

Essentially, as long as the gross proceeds reported to the IRS match the amounts reported as gross proceeds on your tax return match, you should be fine. I would recommend retaining supporting documents for your calculations when computing your overall gain or loss on the sale and keeping it with your tax return records.

 

If the taxing agencies ever request support for the overall amounts reported on your tax return, you will be able to provide support for the amounts reported.

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