Question

I received 1099S showing $628.08 representing overpayment of property taxes for the sale of home in 2021. How do I report it on my tax return?

Forum|Forum|3 years ago
March 10, 2023
1 reply
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Your program asks me to report 1099S under the sale of my home, but it stops me because the sale took place in 2021. Sale was reported and taxes paid on my 2021 return.

TurboTax Premier Online

R

RobertB4444

If you itemized deductions on your 2021 return then you would enter this in as miscellaneous income (it shouldn't have been sent to you on a 1099-S). If you didn't itemize deductions and take a deduction for this property tax in 2021 then you don't need to report it at all.

If you decide you want to put it on the return just to be safe even though you didn't itemize, then you should enter it as miscellaneous income with the description "Return of Overpaid Property Tax". Then enter a second miscellaneous income amount for the exact same thing in the negative.

@clarionave

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