what form to report income from a sale that did not close
I (seller) was in a contract to sell some land. The prospective buyer paid me to extend the closing date twice, and he was finally found to be in default by the title company, so I received the earnest money, too. What form do I use to report this income on my tax return? (No Sale)
2)I received rent for some farmland. (The tenant knew it was for sale when he leased it) The farmland sold and I returned the prorated amount of the lease money back to him. How do I report this on my tax return?
These two questions are not connected (two separate pieces of land I inherited)
Last edited by isen1952 : 02-03-2015 at 03:53 PM.