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Investors & landlords
Death-n-taxes,
You are legally required to report it as capital gain income. I've had at least a dozen such situations over the years as sundry stockholder lawsuits reached a settlement. Put in the amount you received as the sales price. Put in $0 for the cost basis. Mark the transaction as Various Long Term, Basis not Reported to the IRS.
‎April 22, 2021
9:31 AM