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Invoices. Forms 1099-MISC. ... Invoices. Also keep all of your credit card receipts. They can help document your expenses. When you sell any business assets — such as the real estate, furniture ...
For a variety of reasons some Form 1099 reports may include amounts that are not actually taxable to the payee. A typical example is Form 1099-S for reporting proceeds (not gain) from real estate transactions. The Form 1099-S preparer will report the sales proceeds without regard to the amount of the taxpayer's "basis" in the real estate sold.
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