Re: For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

Residential lot purchased in 1977. Former residence, but has been vacant lot for 10 years.

posted

What goes under Total amount paid?

Total amounts paid you you I presume? That would be whatever your contracted sale price was.

It turns out this is the total that WE paid for the property 30+ years ago. It's clumsily labeled and not presented in the order I would find logical, but it gets a sensible result. Problem solved.

Backdoor Roth IRA 2024 - Turbotax is taxing the entire amount of the conversion (which is incorrect - the conversion amount is the same amount as the basis from the non-deductible IRA that I am converting to Roth.

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For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

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For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

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For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

For a land sale, I have entered the proceeds from box 2 of the 1099-S. What goes under Total amount paid?

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