If you are referring to a foreclosure on your home and have not filed your taxes, here is the information: You should report the foreclosure like a sale back to your lender. You do not need to report the 1099-A itself. However, you do need to report the sale of your home using the information provided in the 1099-A. Box 1 is the sale date of your asset (acquisition by the lender) and box 4 is the sales price (fair market value) to the lender. If box 4 is less than box 2, you have a loss. Personal losses are not deductible. After sign in, select Pick up where you left off In the Search box, at the right upper corner, type in sale of home then press Enter Select the 1st choice on the search result - Jump to sale of home The program will take you directly to screen, Sale of Your Main Home screen, select Yes. Then follow the prompts. If there is a gain generated from the sale, you can exclude up to $250,000 of gain ($500,000 if you're filing jointly) if: You owned the home; and It was your main home for two years or more of the five year period ending on the sale date; and You did not exclude gain from the sale of another home during the two year period ending on the sale date. If you have already filed, you might need to amend. Please continue to read: You can return to the program to make corrections without amending only if your return is being rejected. If your return is accepted, to change your information, you will have to amend it. You cannot just go back to add. If your return got rejected for any reason, you can return to the program to edit the information along with other changes and re-submit it. For instructions, click here Fix a reject 2019. You do not need to file an amendment 1040-X. If your return has been accepted, you will have to amend by filing a Form 1040-X. Click here for instructions Amend 2019. Please note that you should not try to amend your return until it has been fully processed and you have received your refund or your payment has cleared. If by editing the information does not change the refund or amount you owe, you do not need to submit the amendment. @megan-tierney

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If I need to add a 1099-A where would I do that?

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April 15, 2020
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TurboTax Deluxe Online

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linaj20201

If you are referring to a foreclosure on your home and have not filed your taxes, here is the information:

You should report the foreclosure like a sale back to your lender. You do not need to report the 1099-A itself. However, you do need to report the sale of your home using the information provided in the 1099-A. Box 1 is the sale date of your asset (acquisition by the lender) and box 4 is the sales price (fair market value) to the lender. If box 4 is less than box 2, you have a loss. Personal losses are not deductible.

After sign in, select Pick up where you left off
In the Search box, at the right upper corner, type in sale of home then press Enter
Select the 1st choice on the search result - Jump to sale of home
The program will take you directly to screen, Sale of Your Main Home screen, select Yes.
Then follow the prompts.

If there is a gain generated from the sale, you can exclude up to $250,000 of gain ($500,000 if you're filing jointly) if:

You owned the home; and
It was your main home for two years or more of the five year period ending on the sale date; and
You did not exclude gain from the sale of another home during the two year period ending on the sale date.

If you have already filed, you might need to amend. Please continue to read:

You can return to the program to make corrections without amending only if your return is being rejected. If your return is accepted, to change your information, you will have to amend it. You cannot just go back to add.

If your return got rejected for any reason, you can return to the program to edit the information along with other changes and re-submit it. For instructions, click here Fix a reject 2019. You do not need to file an amendment 1040-X.

If your return has been accepted, you will have to amend by filing a Form 1040-X. Click here for instructions Amend 2019. Please note that you should not try to amend your return until it has been fully processed and you have received your refund or your payment has cleared. If by editing the information does not change the refund or amount you owe, you do not need to submit the amendment.

@megan-tierney