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Get your taxes done using TurboTax
Thanks for your reply. I appreciate your time.
In my explanation of my situation I did not state that I received a 1099S for the proceeds from the sale. This is where I misunderstood, or did not read carefully the instructions. Because the sale was under the $500,000 limit, I thought I did not have to report the income. However, on second reading I thought that I had to report the sale even if it wasn't under the limit because of having received a 1099S, thus the amended return.
I am still not clear why the amended return shows me owing $835 dollars even though my taxable income is still the same. Is it possible that there is a "bug" in the TurboTax program?
‎April 26, 2021
2:27 PM