Where do I enter 1099s?

[TeresaM]

If you sell a rental property, that will need to be entered in the Schedule E section, with the other rental information.  There is another place in TurboTax to enter a Form 1099-S, but that is for other kinds of property.

The key will be when you get to the screen Tell us about your situation this year  Check the Sold box, along with any other boxes which apply. This will prompt you later for details about the sale. You will use the information from the  Form 1099-S to fill out that section but it is not entered directly.

For more information, please see this TurboTax Help article. It may be helpful to click on the link for Terminology Tips.  Entering Sale of a Rental Property

[juice1950]

I sold a lot beside a house I am renting. I received a 1099S form for the amount I received for the lot.  BUT the lot was worth $17000 and I sold it for $10000.  Do I get to take a loss on this lot? Also where do I enter the 1099S on my tax form.  I am using the desktop version of Turbo Tax.

[juice1950]

I SOLD A LOT BESIDE A RENTAL PROPERTY THAT I OWE.  IT WAS SOLD FOR $7000 LESS THAN THE ACTUAL PRICE.  I RECEIVED A 1099S FOR THE $10000. WHERE DO I ENTER THE 1099S? AND WILL I GET A DEPRECIATION FOR THE $7000 ANYWHERE?

[DianeW777]

The sale of land is considered an investment sale.  If all you sold was the land (no structures or buildings on it where depreciation expense was used as part of your rental activity) you will report it as follows. 

Also, if this portion of land was included in the rental home asset, be sure to change the cost of the land for the rental.  If you never added the cost of the particular parcel of land to the rental building information there is nothing to do in the rental portion of your return.

Land sales are reported by using the following instruction.

1. Federal Taxes > Wages & Income >scroll down to Investment Income and select Stocks, Mutual Funds, Bonds, Other. 
2. Respond "yes" to Did you sell any investments?  You'll then be asked Did you get a 1099-B or brokerage statement? 'No'
3. Enter one sale at a time
4. Enter Land Sale Information
5. Continue to follow the prompts to complete your sale
6. See the image below for assistance.

@juice1950

[ThomasM125]

Since the lot was not rented or used for business, the loss on sale of it would be a capital loss, the aggregate of which is limited to $3,000 per year on your tax return.

You would report it as an investment sale as follows:

While in the Federal section of TurboTax:

   1. Income and Expenses

  2. Investment Income

  3. Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)

Choose the category of investment you want to enter and follow the instructions to enter your investment sale.

[TR7711]

Where do i enter my 1099-S? You reference it but only show 1099-B.

[TR7711]

where do I enter information for 1099-S???

Sale of rental property.

You reference it but then only have 1099-B.

[LoganathanB]

• Open your tax return
• Search for 1099-s
• Click on Jump to form 1099-s
• Enter your 1099-sand follow the screen instructions

Click on the link for more information.

Where to enter 1099-S

[Pematlanta]

Where do I enter a 1099S for sale of inherited property?

[PattiF]

The sale of an inherited home is considered an investment sale and you need to enter this info in the investment section of TurboTax.You could use TurboTax Deluxe if you use the CD\Download version. Or use the TurboTax Online Premier or higher version. 

From @ColeenD3

To enter the 1099-S in TurboTax Online:

Click on Federal > Wages & Income

1. In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.  If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far.  Click on the Add More Sales link. 
2. If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX?  Click the Yes box.
3. On the screen,  OK, what type of investments did you sell? mark the Other box and click Continue.
4. When you get to the screen, Now we’ll walk you through entering your sale details, enter the details of the sale.  You will be able to select the type of investment in the first box [second home, land, etc.]  
5. Enter the requested information and click Continue when done.

@Pematlanta

[Sharon655]

Where do I Report the 1099S in Turbo  Tax?

[DoninGA]

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@Sharon655 wrote:

Where do I Report the 1099S in Turbo  Tax?

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It depends.  What did you sell to receive the Form 1099-S?

[AnnetteB6]

As mentioned by DoninGA, where you enter the information reported on your Form 1099-S depends on what property was sold and reported on the form.

Take a look at the following TurboTax help article for some additional guidance and instructions on what to do if you sold your main home or another type of real estate:

Where do I enter Form 1099-S?

@Sharon655 

[SLS1]

I am using 2022 Turbo Tax Deluxe and need to enter 1099S information for the sale of inherited farm land. What can I do.

[MayaD]

The  sale is considered investment sale, you need to report it in the investment section of TurboTax. 

For instructions on how to report the sale check : Where do I enter the sale of a second home, an inherited home, or land on my 2022 taxes?