HI
I just sold a home I lived in years ago. My grandmother left it to me and I later moved out of state and the property became run down. I sold it for 12,000, but had 5,000 paid to water taxes, 1200 paid to a lien that I did not know about, 150 to property taxes. Should I have a 1099 for the full 12,000 or just the amount received?
Thank you for any help.
Angie
I just sold a home I lived in years ago. My grandmother left it to me and I later moved out of state and the property became run down. I sold it for 12,000, but had 5,000 paid to water taxes, 1200 paid to a lien that I did not know about, 150 to property taxes. Should I have a 1099 for the full 12,000 or just the amount received?
Thank you for any help.
Angie