Sold a rental; entered sale info in rental sect. Also entered 1099-S in "Invest Income" sec but cap gain doubled. Can delete 1099-S but worry about not reporting a 1099S?

Forum|Forum|1 year ago
April 2, 2025
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The sale proceeds and costs/basis appear to be properly captured (Form 4797, Sch D), so is adding the 1099-S to the Investment Income section (where TT directed me) unnecessary.

TurboTax Online

Best answer by DavidD66

Yes, You need to delete the transaction you entered in the investment section. There is a sale of a real estate asset, it''s just on Form 4797 instead of Form 8949. That's all you need.

DavidD66Answer

Yes, You need to delete the transaction you entered in the investment section. There is a sale of a real estate asset, it''s just on Form 4797 instead of Form 8949. That's all you need.

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