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Deductions & credits
Sorry to bother you. But I am still not clear on where I can enter the $1750 in seller credit that I provided during the sale of my rental property. That amount is not on the 1099-S. That form only shows the total sale price under gross proceeds in the amount of $300,000. Technically, the net sale or net proceeds should be $298,250 ($300,000 minus $1750). I went back and checked every where, just not seeing a place where I can claim this $1750 in seller credit. Any further guidance on this matter will be greatly appreciated. Maybe I should upgrade and get the live advice option from TurboTax and have a professional also review my tax return. Thanks again!
May 17, 2020
9:16 PM