Should I report sale of property reported on Form 1099-S, Proceeds from Real Estate Transactions for the Tax Yer 2018>

Forum|Forum|7 years ago
June 6, 2019
1 reply
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Sold vacant commercial lot and received Form 1099-S. Where do I enter the information from the 1099-S?

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Best answer by DavidD66

You will report that in the same section that report stock and other investment sales. :

Type "Investment sales" in the search window and click Enter
Click on "Jump to Investment income (gains and losses)"
On the page with "Did you sell any investments in 2018?" Answer Yes
Answer No to "Did you get a 1099-B..."
On the "Choose the type of investment you sold" Indicate "Land"
The interview will walk you through entering the details of the sale

If it was personal property (not bought for investment, not used for business or rental) be sure to indicate "Personal Use Only" on the "Any Business or Rental Use?" page

DavidD66Answer

Level 15

You will report that in the same section that report stock and other investment sales. :

Type "Investment sales" in the search window and click Enter
Click on "Jump to Investment income (gains and losses)"
On the page with "Did you sell any investments in 2018?" Answer Yes
Answer No to "Did you get a 1099-B..."
On the "Choose the type of investment you sold" Indicate "Land"
The interview will walk you through entering the details of the sale

If it was personal property (not bought for investment, not used for business or rental) be sure to indicate "Personal Use Only" on the "Any Business or Rental Use?" page

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