Question

1099 -S Proceeds from Real Estate Transaction but not my primary residence

Forum|Forum|4 years ago
October 11, 2021
1 reply
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Can anyone tell me how I can enter income from the sale of a property I flipped. It is on form 1099-S but I cannot find it under Investment income. When I do the review and I tell TT that I need to enter other forms it does not take me to a screen to enter it. HELP!!!

Carl11_2

Employee

I assume the property was a 2nd home and was not used to produce any type of income for any purpose during your ownership - to include having claimed a home office.

Under Personal Income in the Investment Income section elect to start/update Stocks, Bonds, Mutual Funds, Other.

On screen "Did you sell any investments in 2020"? select YES.

On Screen, "Did you get a 1099-B.....?" select NO.

On Screen, "Tell us about this sale", select to enter one sale at a time, enter the sales info, and continue.

On Screen, "Any of these less common items for this sale?" leave everything blank, click DONE.

You should be able to complete this section on your own now.