IRonMaN
Level 15
03-24-2021
02:34 PM
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1. Since a 1099S was most likely generated, of course you want to report it. The IRS doesn't know if money was made or lost.
2. If you had an accurate appraisal, why wouldn't you want to report it so your client can save a couple of bucks on their return?
Slava Ukraini!