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Deductions & credits
The TurboTax rep was right - technically you don't have to report this at all.
But the IRS has sent more and more letters over the last few years about these sales checking to find out what the deal is. Which results in having to file an amended return in order to report a sale that has no gain.
I have been recommending to clients to put the sale on your return just to avoid the potential question later for the last several years and I am recommending the same to you now.
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‎April 14, 2024
9:55 AM
2,663 Views