1099-S

[tiptosa]

How do I enter a 1099-S Proceeds From Real Estate Transactions (it's farm land sale)? If I enter it as Business Income or Additional Income, TurboTax converts it to a 1099-B.  When I do a search on 1099-S it sends me to Income section of the return, instead of the form.

[MarilynG1]

There's isn't a place to enter a Form 1099-S as such in TurboTax.

You'll report the details from the form when reporting the sale of your asset.

If your Farm Land is an Asset for a Schedule F, you'll report the sale of that asset in that section.

If it was vacant land not used for business, report it as an Investment Sale. 

[tiptosa]

Thank you for your quick reply. The farm land is not a listed depreciable asset in schedule F and it isn’t vacant land.

TurboTax needs to add all tax forms, including 1099-S.  Other Home and Business software has that ability, and I will have to use that.