My husband and I sold our home. This sale amount didn't qualify for capital gains tax. There were some issues with the sale, and we went to mediation where we were awarded $18,000.00. This amount added to the amount of the sale still does not qualify for capital gains tax.
We received a 1099 MISC from our attorney, but it appears we should not be taxed on this amount due to not meeting the capital gains amount. Does anyone have input on how this should be addressed on our taxes? Thank you for your time.
