If my wife and I made $70,000.00 jointly in 2024, and I sold a house in which $487,500.00 was taxable. What would my tax rate be on the sale of the house?
How do I file a Substitute Form 1099-S form if I was not involved in the purchase or selling of the property. All I did was receive a disbursement from the sale proceeds.
-How do I correctly enter a 1099-S for the sale of only 1% of a life estate? When I go to the other income to enter it, it puts me into a capital gains calc.