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QUESTION DETAIL
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I just sold my primary residence for the exact same amount that I purchased it for. During the closing, the lawyer completed a 1099 tax form. Does this mean I will have to pay income tax on the sale?
ANSWER
The BIDaWIZ Team's Answer:
Based on the facts and circumstances that you've provided, your attorney is likely the settlement agent and filed form 1099-S. This may only be for informational purposes (not tax) as detailed in the instructions to form 1099-S.
