BobKamman
Level 15
02-06-2023
01:39 PM
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That looks like an option to me. For stock options, the proceeds from an option that is not exercised is either short-term or long-term capital gain, depending on when the option was sold. I don't know about real estate, but if there is a question of whether $150K goes on Schedule D, I would research it thoroughly.
And in what year was the contract canceled?