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February 9, 2024
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Investment Propety Sale

  • February 9, 2024
  • 2 replies
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I sold residential property (lot only) for a loss in 2023.  I held it for 10 years.  I cannot find a way to enter it into my TurboTax Deluxe software.

    Best answer by KrisD15

     

    Enter that under

    Income

    Investment Income

    Stocks, Cryptocurrency, Mutual Funds, Bonds, Other 

    START

    Did you sell any of these investments in 2023?

    YES

    Select 1099-S as the type 

     

    Enter the information on the 1099-B screen regardless if you received any form. 

    The information will transfer to "1099-B Worksheet" which is a program document and is not part of your 1040. It does not transmit.

    The calculation is properly posted on your Schedule D which IS part of your 1040 and does transmit. 

     

     

     

    2 replies

    KrisD15
    KrisD15Answer
    February 9, 2024

     

    Enter that under

    Income

    Investment Income

    Stocks, Cryptocurrency, Mutual Funds, Bonds, Other 

    START

    Did you sell any of these investments in 2023?

    YES

    Select 1099-S as the type 

     

    Enter the information on the 1099-B screen regardless if you received any form. 

    The information will transfer to "1099-B Worksheet" which is a program document and is not part of your 1040. It does not transmit.

    The calculation is properly posted on your Schedule D which IS part of your 1040 and does transmit. 

     

     

     

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    JCHAPTTAuthor
    February 10, 2024

    Great advice.  Thanks for helping me get my property sale/loss entered into TT.