Question

Where to enter 1099 S for sale of second home

Forum|Forum|4 years ago
February 1, 2022
1 reply
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I have Turbo Tax Premier, I cannot find where to enter my 1099 S. It takes me to the investments section for second home but does not ask if I have a 1099 S only 1099 B. If I say "no" to 1099B then on form 8749 it states "not reported to IRS" when the 1099 S was reported to IRS. How can I enter the info on the 1099 S correctly if I cannot find it. This is getting very frustrating. Is there a problem with the 2021 software since it does not ask if this was a second home???

ColeenD3

TurboTax Online

Open or continue your return
In the search box, search for sold second home and select the Jump to link
Answer Yes on the Did you sell any stocks, mutual funds, bonds, or other investments in 2021? screen
- If you land on the Your investment sales summary screen, select Add More Sales
On the OK, let's start with one investment type screen, select Other, then Continue
On the Tell us more about this sale screen, enter the name of the person or institution that brokered the sale
On the next screen, select Second Home (choose this also for inherited homes) or Land and answer the questions to finish entering your sale

H

haroldrb15Author

Hi Coleen, I do not see steps 4 or 6 as you described below on my software. I did steps 1 - 3, step 3 bringing me to "Did you receive a 1099B", I click NO, I cannot enter financial institute. If I click YES I received a 1099B then I can add a financial institute (in this case the title agency) and the steps to fill out are from the 1099B form not the 1099S so the info it is asking for is completely different; nothing indicating sale of second home.

If I click on ADD MORE SALES, it brings me to "Did you get a 1099B or brokerage statement for these sales?" IF I click YES it asks for brokerage name, click CONTINUE, Tell Us About Your 1099B with 2 options: #1 I will enter one at a time or #2 I will enter a summary for each sales category. Nothing about OTHER or second home.

I purposely bought the Premier version for the sale of the second home and this is not helping. Seems like the software is missing info.

Critter-3

Ok ... there is NO place to directly enter a 1099-S for the sale of a second home. Follow the "I did not get a 1099-B" directions already in this thread. Use " #1 I will enter one at a time " option ... enter "second home" for what you sold, enter the sales price & cost basis(add cost of sale to this amount).