Diane Posted April 4, 2011 Report Posted April 4, 2011 If you have a 1099-S for an easement, and it doesn't qualify as a sale, just a reduction of basis, how is shown on the tax return? Diane Quote
kcjenkins Posted April 5, 2011 Report Posted April 5, 2011 The simplest way is to show it on Sch D as a no-gain, no-loss transaction. Basically, you are assigning to the easement a share of the basis equal to the amount received. This makes the IRS happy, and the client too, which is a nice thing. Quote
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