I have investment real estate that is held within an IRA... last year (2018) I sold a house, and received a Form 1099-S from the Title company. I don't believe that the sale is taxable (i.e it is deferred), but how do I enter the 1099-S into my taxes, or do I enter it into my taxes (since the 1099-S has been issued) to keep everything honest and on the up & up?
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Just keep the 1099S with the tax records as it does not get reported on the tax return.
Anything that takes place within the retirement account does not impact the return. If IRS does ask, you will simply let them know that this was inside the IRA and does not go on the individual return.
This happens every now and then, so it is not that unusual.
Just keep the 1099S with the tax records as it does not get reported on the tax return.
Anything that takes place within the retirement account does not impact the return. If IRS does ask, you will simply let them know that this was inside the IRA and does not go on the individual return.
This happens every now and then, so it is not that unusual.
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