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Business & farm
The response is provided in my original response.
You need to determine your basis at date of sale, your overall gain and if Section 751 applies. All this explained in original response.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎October 8, 2019
1:11 PM