Question

Form1099-s

Forum|Forum|2 years ago
February 8, 2024
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Sold our Timeshare and have a 1099-s form from the company that handled the sale. I tried to record it on my Premier account, but it only lets me record it on 1099B. Where do I find the 1099-s form.

D

DavidD66

You will enter the sale of your time share the same way you would report the sale of stock, which would be reported on a Form 1099-B. To enter the sale in TurboTax:

Click on "Search" and type in "1099-b"
Click on "Jump to 1099-b"
On the page with "Did you sell any of these investments in 2023?" scroll down and answer Yes
Select "Other" and then click on "Continue"
Type in something like "Vacation House" instead of a broker, and click on Continue
On the "Now enter one sale of "Vacation House]" Click on the drop down menu for "What type of investment did you sell?" and select Second Home
Continue and enter the details of your sale. Be sure to adjust your sales proceeds by the amount of any sales expenses, such as commission, advertising, closing costs paid, etc. Also be sure to adjust your cost basis for any improvements you made or were assesed for (but do not include repairs and maintenance).