Rental House Sale

[bchunt300]

Sold a rental house.  The contract to purchase the house was written in November of 2019 but due to some delays the closing did not take place until Feb. 2020.  Can we claim the sale of the house on our 2019 taxes since the purchase agreement tool place in 2019.

[tagteam]

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@bchunt300 wrote:

Can we claim the sale of the house on our 2019 taxes since the purchase agreement tool place in 2019.

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No, the closing date controls in this instance, not the date the contract was signed.

[bchunt300]

Should we receive a 1099-S from the closing attorney?

[kim222]

I just sold mine last year and the selling agent told me today that they don't send out the 1099.  You'll will have to use the closing statement what disclosed all the costs provided after your closing and use them for tax filing.

K