Installment Sale - Reporting Cost to Transfer Title year after final payment received
I had an installment sale. Final payment was received in 2019 and reported on 2019 tax return. I incurred legal costs associated with transferring title of the property in 2020. Where/how do I report those costs on my 2020 tax return?
Installment Sale - Reporting Cost to Transfer Title year after final payment received
Unfortunately, there is no place to claim these unreimbursed expenses due to the Tax Cuts and Jobs Act of 2017 that eliminated Miscellaneous Deductions subject to the 2% floor limitation for tax years 2018-2025.
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