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I sold a vacant lot this year but I had a home torn down on this land in 2013 to turn it into a vacant lot. How do i report this?
In 2012, I paid off a lien on my brother's home and title was transferred to me. I had the home demolished due to uninhabitability (too many repairs) in 2013, wherein I incurred additional expenses going forward. I sold the vacant lot this year below assessed value. Property in is the same state I live in.
‎June 1, 2019
12:43 PM