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Box 2 - 51,856.00
Box 4 - 17850.00
Box 5 - Yes

Using TaxAxt Online to file taxes and need to know what to enter for the following questions under the "Investment Sales" section (this is where taxact said to enter the information from the 1099-A)

Section asked me to "enter the details of the investment property sold"

1. Sales Proceed (total amount - not a price per share)
2. Cost or other basis (not a price per share)[/img]

jameshogg · Posted: Sun Oct 10, 2010 10:34 pm Post subject:

Hi jlynb,

As you were liable for paying the deficient balance to the lender, you won't be liable for paying taxes. You should mention the sale price of the property while you fill out the tax documents. It'll be better if you could contact a tax adviser and take his opinion in this matter.

Thanks

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