Posted by Kathryn on 2/24/07

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My husband and I have owned our primary home for 8 years.
In 2006, the utility company gave us an easement payment
for expanding the existing easement and to compensate the
larger electric poles replacing the old ones. We received
$7300 for the land and $2500 for waiving additioanl
appraisals. For taxes, they sent us a 1099-S with the
total amount of $9800 in box 2 and EASEMENTS in box 3.
What are our responsibilities for tax purposes and where
does this go on the form?
Thank you,
Kathryn
PS: I've been batting zero at any definative answer so far.

Utility Easement payment & the IRS, 2/24/07, by Kathryn.

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