- Joined
- Dec 5, 2007
- Messages
- 2,880
Hi All,
When are you supposed to report an amount paid by the seller on closing, say $10,000 for roof?
When you sell or the year you receive it meaning when you buy? Does it depend on whether it was used to build a new roof OR just repair it?
Same question regarding last month rents you get on closing. - that I`m assuming you have to report the year you buy/when you get the money(?)
THANKS.
When are you supposed to report an amount paid by the seller on closing, say $10,000 for roof?
When you sell or the year you receive it meaning when you buy? Does it depend on whether it was used to build a new roof OR just repair it?
Same question regarding last month rents you get on closing. - that I`m assuming you have to report the year you buy/when you get the money(?)
THANKS.