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Get your taxes done using TurboTax
Well, I guess I will muddle through this year, and save a printout of this discussion in case I get audited by the IRS. Since there now no longer is a way to list list sales price and selling expenses separately, I will have to report a net sales price (after deducting my selling expenses). But then my reported sales price will no longer match the sales price reported to the IRS on form 1099-S. Not a good thing when the IRS starts verifying my reported sales price against the 1099-S submitted by the real estate broker.
I have enjoyed Turbotax for many years, but I will never buy it again. Time to check out H&R Block and TaxAct!
‎February 6, 2021
2:21 PM