#396 OPEN FORUM SHOW - Answering Difficult Tax, Legal & Business Questions
Main Street Business
00:00
Can You File a 1099S to Reclaim Capital Gains Taxes?
Garrett: I spoke to an individual here in Orlando who sold the residential home and got hit with capital gains taxes from the IRS. Later they bought another house. Neither properties were investment, just owner occupied. Can they file documents to reclaim taxes? They had to pay to the IRS from the capital gains. Garrett felt prey to a common situation. He's at dinner at the bar and someone goes, oh, I ended up paying taxes on the sale of my home. Now, this is a good lesson for everybody, pay attention. What's this? Why don't you bring your tax return?"
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