Deductions & credits

Thank you for the quick response and insight.

 

So they did supply a 1099S with the check, but on the 1099S it showed exactly 50% as the proceeds. Not sure I understand why that would be the case.

 

I suppose however I will need to ensure we get her taxes done this coming season.

 

One follow-up if you don't mind, but with the 1099S would that require filing both state and federal? I didn't see anything differentiate the two in the link provided.

 

Thanks again.