Question

1099-S

Forum|Forum|4 years ago
February 16, 2022
1 reply
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I am a full year resident of Kentucky where I have lived for years. I sold a piece of land in 2021 I owned for many years for a profit in another state (South Carolina) & I received a 1099-S. I did not pay any taxes to S.C. nor did I pay any closing costs. The buyer paid all taxes, fees, & costs involved in the sale of the land. My question is do I need to file a South Carolina tax return?

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V

Vanessa A

Yes, you will need to file a SC Non Resident return to report the sale of the property in that state. You will fill out the SC return first, then you will fill out your KY return and include the sale in your KY income as well. KY, will then give you a credit for taxes paid to SC.

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