Marie Posted February 23, 2021 Report Posted February 23, 2021 Client made a deal to sell property in 2020, but because the title company is so far behind, the actual exchange of money won't be until 2021. Can I sell the property and pay on the profit in 2020? If so, how do I handle the 1099 in 2021? Quote
Lee B Posted February 23, 2021 Report Posted February 23, 2021 3 hours ago, Marie said: Client made a deal to sell property in 2020, but because the title company is so far behind, the actual exchange of money won't be until 2021. Can I sell the property and pay on the profit in 2020? If so, how do I handle the 1099 in 2021? Your client could have fixed this problem by closing though a real estate attorney before year end. Don't try to fix this for your client because then it's becomes your problem. Quote
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