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Investors & landlords
My bet is, you had an insurance payout after the house burned down. This can potentially complicate things a bit. More-so if your state also taxes personal income. You may wish to consider professional help for this year.
Basically, you have three sales.
- The sale of the burned home to the insurance company
- The sale of 66 acres of land to one party
- The sale of 6 acres of land to another party.
‎January 24, 2022
4:56 PM