RobertB4444
Expert Alumni

Investors & landlords

You're not being double taxed on the section 1250 gain.  It is being taxed at a different rate than the capital gains you received.  Because the deduction you got was a regular income deduction it is being taxed as regular income.

 

You should definitely put the sale of your primary residence on the return.  It used to not be a big deal but the last few years the IRS has really started asking about those sales.

 

You can file a separate form 843 by mail.  You need to come up with a pretty good reason for paying the taxes late but it never hurts to ask.  Here's a link to the fillable pdf of 843 on the IRS web site.

 

@1597980 

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