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Hello, I received a 1099 S Form a sale of timber of the land I own. The property is in WV and I live in MD. how do I file form 1099s?? will I need to file with WV also?

 
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1 Reply
KrisD15
Expert Alumni

Hello, I received a 1099 S Form a sale of timber of the land I own. The property is in WV and I live in MD. how do I file form 1099s?? will I need to file with WV also?

You can enter that as an investment sale with a zero basis (all gain) as described here is a link for that. 

You can also enter that as an investment sale with a non-zero basis. That will result with a lesser gain. HERE is a link for information on how to establish a basis. 

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