Sold cell tower lease under assumption it would be Capital gains and could write off
( Ca. U.s.a.)
We were told if we filed a a schedule D IRS form 8949, that it would be a Capital gains tax and because we had them payoff home where cell tower lease is on , we would be ok for taxes. Both disabled. Have husband's disability income and still a lease from Verizon of $800.00 per month. Three family household. Tax accountant is thinking we may have to pay 80,000 in taxes as personal gain. We have TRIED to sell the property (home) but, no one is interested as cell tower sits too close to home.
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