Sold a sked C business asset (real estate) and received a 1099-S for the gross. In this area property tax is paid in arrears, so there was a charge for the property tax up to date of sale.
Should this expense be treated as a business expense on the sked C and the gross sales price reduced accordingly, or as an expense of sale that reduces the net sales price. Either way it seems like it gets to the same net.
Just some rough numbers: sales price $245,000 prop tax $3,000 other expense of sale $10,000 net realized $232,000
scott s. ..