My thanks for the quick response. I am using TurboTax on-line and here is the flow I am using for entry:
> Select - Federal: Income and Expenses
> Select - Stocks, Mutual Funds, Bonds, Other
> No to receiving a 1099-B
> Entered the name of the financial institution that brokered this sale
> Entered the following on "Now we’ll walk you through entering your sale details"
- Type of investment: "Land (Other investment purpose)"
- How did I receive: "I purchased it"
- Entered a description of the property
- When did you receive this investment? "entered purchase date in 2005"
- Date sold or disposed "entered date of sale in 2019"
- Proceeds: "Entered the Gross Proceeds indicated on the 1099-S" (note this included cost of sale such as sales commission)
- Total amount paid: "entered the purchase price for the property"
> I check the box: "I have more info to enter that I don’t see here:I have more info to enter that I don’t see here";but only the following is shown (none are applicable):
Accrued market discount
Wash sale loss disallowed
Federal and State income tax withheld
If I "continue" there are no other fields to be completed
NOTE: when I click on the learn more for the "Proceeds" field; the following is displayed:
"In most cases, your proceeds amount already has fees and commissions subtracted out of it, but if it doesn't you should enter them later when we ask about any sales expenses."
In my case the proceeds on the 1099-S include fees and commissions and TurboTax never asks me about "Any sales expenses"
I appreciate any insight you might have as I just am unable to find where to enter the "Sales Expenses"
