479198

We received money from a drainage easement on our property of $30k. We did not receive a 1099. Where do I enter this on my taxes? It decreases the property value somewhat

posted

Connect with an expert

1 Reply

We received money from a drainage easement on our property of $30k. We did not receive a 1099. Where do I enter this on my taxes? It decreases the property value somewhat

You don't need to enter it. As you say, it decreased the basis of your home. If you were to sell, it would give you a larger gain.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post