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April 14, 2022
Question

How do i enter a 1099-s for an investment property that is not a rental?

  • April 14, 2022
  • 1 reply
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I have a property I flipped that was not a rental property or my main home.  Where do I enter the 1099-s?

1 reply

April 14, 2022

Investment income is the correct category if you are not in the business of flipping houses.

 

  1. Open or continue your return (you can choose the Search box and type 'sale of second home' then use the Jump to link to enter your inherited sale) or follow the menu.
  2. Under Wages & Income scroll to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
  3. 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
  4. On the OK, let's start with one investment type screen, select Other, then Continue
  5. On the Tell us more about this sale screen, enter the name of the person or institution that brokered the sale
  6. On the next screen, select  Other then select  a property type under How did you receive this investment?
  7. Be sure to enter I purchased it and the appropriate dates so that TurboTax knows if it's long or short term.
    1. Long term if the investment has been owned by you for more than one year
    2. Short term if the investment has been owned by you for less than one year

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