bagel9
New Member

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.