The search results do not directly address whether you can purchase a property without a time-of-sale report. However, the time-of-sale report typically pertains to the sale of certain vehicles, especially those eligible for tax credits, rather than real estate transactions.
In the context of real estate, when purchasing a property, there is no requirement for a “time-of-sale report” similar to what might be used for vehicles. Instead, sellers of real estate may need to receive a Form 1099-S if the sale meets certain criteria, and buyers generally do not report the purchase on their tax return unless they are claiming deductions or credits related to owning the home.
Therefore, you can purchase a property without needing a “time-of-sale report” similar to those used for vehicles. However, you might need to file forms related to the purchase if you are claiming any tax benefits from home ownership.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-i-still-purchase-the-property-without-the-time-of-sale-report/
