Thank you so much@JulieS. So a wonderfully clear and thorough response. This makes perfect sense. One quick follow-up question. Since I am cash method accountin...
@HelenC12thank you for your response, but let me clarify. Your response said "accepted on 2/1". The email confirmation on 2/1 says they were submitted to the IR...
@Topsy10I would file an extension for this year and discuss with some local CPAs before amending your returns. I have done a ton of research and discussed w/ mu...
Thanks for the response. Yes, I am aware of that. I'm asking in the context of subtracting the value of the land from the purchase price of the property.