JoannaB2
Expert Alumni

Get your taxes done using TurboTax

No. The form 1099-S is not included under Turbo Tax forms.  A form 1099-S is a tax document used to ensure that the full amount received for a real estate sale of some kind is accurately reported. ... A 1099-S can also be used to report income made on rental property or investment property. For selling real estate, the buyer must complete and file their own 1099-S

 

For residential property, the form 1099-S is reported under Sale of a Home.  If you live 2 out of 5 years you owned the property, capital gain is excluded up to $500,000 ( married filing joint).

 

For rental property. the form 1099-S is reported on Schedule E