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Should I ignore a PTS-1099 with 405K in box 2 and $842.54 in box 6 if house was lived in for 15 years or should I account for it somewhere? If I should, where?
Fiance lived in house 15 years. Sold if for 405K. Net proceeds were 50K. She was issued a PTS-1099 showing $842.54 in Box 6, "Buyer's part of real estate tax." I don't know what to do with this. I have read that if you lived in the house for a certain period, any profit is tax-free. Any help would be appreciated.
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‎June 1, 2019
8:27 AM