topic I sold a Co-Op(main home) in 2016 in NYS(NYC), my profit on it was much less than the $250k TT mentions. I did not recieve the 1099-S TT asks for. Do I have to report it? in Get your taxes done using TurboTax

I sold a Co-Op(main home) in 2016 in NYS(NYC), my profit on it was much less than the $250k TT mentions. I did not recieve the 1099-S TT asks for. Do I have to report it?

bill7420 — Wed, 05 Jun 2019 23:38:17 GMT

Also, I had improvements/renovations to the property, is there a way to deduct those?

The profit on the same is exempted because of the value....

donferg1332 — Wed, 05 Jun 2019 23:38:19 GMT

The profit on the same is exempted because of the value. The only use for the improvements expenses would have been to reduce the profit below the $250K. Since it is already there ,there's no use for those expenses.

Regards, Don

Thankyou Don !

bill7420 — Wed, 05 Jun 2019 23:38:20 GMT

Thankyou Don !