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Determining Basis for Real Estate
I had purchased two plots of land some 40 years ago with down payment and monthly installment payments over 20 years. At the beginning of 2021 I sold one of the plots for which I did receive the 1099-S from the title company that handled the transfer transaction. Can I include the interest, property taxes and annual HOA fee I paid over the years I owned the plot in the cost basis to determine the capital gain?
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March 13, 2022
2:03 PM