I received a form from the bank regarding real estate transactions Form 1099-S. The amount received was used to pay off the morgage on the property. Is that taxable?

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I received a form from the bank regarding real estate transactions Form 1099-S. The amount received was used to pay off the morgage on the property. Is that taxable?

Yes it "could" be. Understand the principle is always taxable. But the Interest is not. But regardless, since you received a 1099-S, it's a reportable event - taxable or not.

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