If you receive Form 1099-S for the sale of your main home, and you don’t qualify to exclude some or all of the gain, you’ll report the sale transaction on Form 8849 and Schedule D. If you receive Form 1099-S for the sale of business or rental real estate, there are several ...
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Section 1031 of the Internal Revenue Code (IRC) provides for investors to defer capital gains taxes on the sale of business or investment property when they reinvest the proceeds of that sale in the purchase of a new business or investment property. “No gain or loss shall be recognized on ...