- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
can't say about FMV after 3 months - different areas of the country had significant changes in house prices in a relatively short period of time. your best bet is to get an opinion, doesn't have to be in writing, from a realtor in the area.
*
you're saying the substitute 1099-S did not have the proceeds on it and there were multiple heirs. call the title company. however, there should be no reason why the total sales proceeds on all the formal 1099-s should not match the closing statement gross sales price.
*
"sales proceeds" the same as the check we received at the closing? absolutely not. gross proceeds are reduced by things like closing costs, mortgage payoff, proration of real estate taxes and other expenses, and other items. gross proceeds are usually listed at the top of the closing statement while you got a fraction of what is probably checked off as due to seller.