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Question

1099-S

Forum|Forum|1 year ago
February 10, 2025
1 reply
0 views

How do I enter a 1099-S Proceeds From Real Estate Transactions (it's farm land sale)? If I enter it as Business Income or Additional Income, TurboTax converts it to a 1099-B. When I do a search on 1099-S it sends me to Income section of the return, instead of the form.

Not A Product Question

There's isn't a place to enter a Form 1099-S as such in TurboTax.

You'll report the details from the form when reporting the sale of your asset.

If your Farm Land is an Asset for a Schedule F, you'll report the sale of that asset in that section.

If it was vacant land not used for business, report it as an Investment Sale.

Thank you for your quick reply. The farm land is not a listed depreciable asset in schedule F and it isn’t vacant land.

TurboTax needs to add all tax forms, including 1099-S. Other Home and Business software has that ability, and I will have to use that.