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We sold our home last year, 2017. I have all the information…

We sold our home...

We sold our home last year, 2017. I have all the information on the sale but, no paperwork on the purchase or the improvements we made.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

I have all the settlement paperwork for the sale of our home lat year. The line item on the income tax form says That I need information on the purchase of our home, and I do not have those settlement papers. I do know the sale price and the date of purchase. I do know the facts about major improvements we did on the home, but I have not found the paper work to support the amount we spent.

Accountant's Assistant: Is there anything else the Accountant should be aware of?

We did not have a short sale although we did sell our home at a loss,i.e. sold it for less than we purchased it for.

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Answered in 1 minute by:
3/17/2018
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,819
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Did you sell your primary residence?

Did you receive a 1099-S from the closing agent/title company for the sale?

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Customer reply replied 1 month ago
it was our primary residence
No, we did not get a 1099-C

If you sold your primary residence, did NOT receive a 1099-S from the closing agent/title company, and sold your home for a loss, you do NOT report the sale on your tax return if you had a loss.

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Customer reply replied 1 month ago
thank you very much for your help

My pleasure.

My goal is to provide you with excellent service. Please take a moment to rate my answer with a 5-star rating to let me know that I have achieved my goal.

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,819
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Barbara and 87 other Tax Specialists are ready to help you
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Thank you for the positive rating of my answer. It is very much appreciated.

Have a great day!

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