Moved House And Sold Land

libby · #1 (**permalink**) 02-01-2009, 04:51 AM

Hi, we bought land in the country and moved our home on it. Then we sold the land the house was on in town. How would you suggest I handle the 1099-S for the sale of the land? Thank you.

TaxGuru · #2 (**permalink**) 02-01-2009, 11:34 PM

Did you make a profit on the sale of the land?

libby · #3 (**permalink**) 02-02-2009, 06:04 AM

Not a profit because we turned around and reinvested the amount received on buying another piece of land to put the house on.

libby · #4 (**permalink**) 02-03-2009, 04:18 AM

Please help me with this question. Thank you.