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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
That would depend on what the camp was, how you used it and how you originally obtained it.
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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
That would depend on what the camp was, how you used it and how you originally obtained it.
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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
Not sure what you mean, however, I received a 1099-S - how/where do I claim this?
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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
If you don't enter those detaiis, no one can help you.
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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
We purchased the camp 30 years ago paying cash with my brother and his wife. Use it in the summer on some weekends and one weekend for hunting in the winter. The camp was an old mobile home.
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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
I don't know where to claim the 1099-S on my form
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We sold the camp and each received a check for $15,000 each. How do I claim this on my taxes?
If you never rented it out and it was always personal use, you would claim it as a second home. Losses are not deductible but gains are taxable. Yo enter it under Investment Income, stocks, mutual funds, etc., Say No to receiving a 1099-b or brokerage. Then choose second home, and enter your information. Each of you and your brother would enter half the amounts in your returns.
To get there, enter the words Investment income in search then click the jump To