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How to report real estate sale on tax return?
I sold a property last year and need to report it. How do I report a real estate sale on my tax return?
Asked By Carl B | St. Louis, MO | 378 views | Finance Legal Info | 1 year ago
Answer(3)
Lisa and Greg Harris
eXp Realty, LLC
There are so many factors that go into this question that are very specific. A REALTOR nor an Attorney can answer this specifically for your situation. I would recommend a good CPA look at your details of the sale..... Such as whether it was it a flip, a primary residence an estate sale, what were the taxes at the time of the sale, did you hold it longer than 2 years, did you net money, did you invest money in the home to sell it..... All these are factors that need to be considered in your specific situation. Consult a CPA and tax prffesional.
- 1 year ago
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Brian DiMaggio
Atlanta Communities
There are a lot of variables that go into answering that questions. I would definitely recommend finding a good CPA
- 1 year ago
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Brinda Griffin
Griffin Realty Llc
Hi Carl,
My advice to you is have a CPA file your taxes for you since you sold a home. There are many deductions and write offs with the sale of a home. It will make a huge difference if the home you sold was your primary residence or not. Seek out a good tax professional near you. Good Luck!
- 1 year ago
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