I received a 1099-S from the title company that did the transfer. It shows a Gross Proceeds amount of $1,769.70. I think everyone will get one.
I don't remember being told that this would be a taxable event? I am no tax expert but I am 99% sure we will have to pay taxes on this. Please tell me if I am wrong.
I called the title company and they said to talk to Victor at Summer Bay. He was out when I called. I think he is a board member. I am not complaining, just surprised when I got this.
Joe
I don't remember being told that this would be a taxable event? I am no tax expert but I am 99% sure we will have to pay taxes on this. Please tell me if I am wrong.
I called the title company and they said to talk to Victor at Summer Bay. He was out when I called. I think he is a board member. I am not complaining, just surprised when I got this.
Joe