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I received a 1099-S for $2,000 gross proceeds from the sale of a timeshare. After deductions I received $1100 net income. How do I report this to IRS?
Please provide how to use Turbo Tax to file correctly. Thank you.
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May 31, 2019
9:28 PM
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Deductions & credits
Follow the steps below to enter your 1099-S
Sign-in to TurboTax Online or Open your return in CD/Desktop version
Click on the following tabs:
Federal Taxes
Wages & Income
I'll choose what I work on
scroll down to Investment Income
Stocks, Mutual Funds, Bonds, and Other , Click Start/Update/Revisit to the right of this category
Click Yes to "Did You Sell any Investments in 2016?"
'Choose the type of investment’ you sold
Follow the screens to enter information about the sale.
For more information, see below:
May 31, 2019
9:28 PM