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My son has Proceeds from Real Estate Transaction noted on a form 1099-S. Where do I include this on the Turbo Tax form? Is it taxable?
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Enter this as the "sale of an investment"; whether it is taxable or not will depend on the amount he received and his cost basis in the real estate.
You will have to upgrade to TurboTax Premier for access to the necessary interviews and tax forms. See the attached screenshot sample of types of investments (from Self-Employed version but still the same screen).
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