Marie Posted February 23 Report Share Posted February 23 Client made a deal to sell property in 2020, but because the title company is so far behind, the actual exchange of money won't be until 2021. Can I sell the property and pay on the profit in 2020? If so, how do I handle the 1099 in 2021? Quote Link to post Share on other sites
Abby Normal Posted February 23 Report Share Posted February 23 No. 1 Quote Link to post Share on other sites
cbslee Posted February 23 Report Share Posted February 23 3 hours ago, Marie said: Client made a deal to sell property in 2020, but because the title company is so far behind, the actual exchange of money won't be until 2021. Can I sell the property and pay on the profit in 2020? If so, how do I handle the 1099 in 2021? Your client could have fixed this problem by closing though a real estate attorney before year end. Don't try to fix this for your client because then it's becomes your problem. Quote Link to post Share on other sites
Marie Posted February 23 Author Report Share Posted February 23 ok, thanks Quote Link to post Share on other sites
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