If you received form 1099-S, yes, enter the sale on your tax return. TurboTax will automatically create form 8949 and transfer the information to Schedule D.
You may get a 1099-S if you sold your home, a rental property, stock in a co-op or any other real estate, including land, permanent structures, or standing timber on your land.
Sale of your main home
If the 1099-S was for the sale of your main home, it’s reported under Less Common Income in the Wages & Income section. Here's how to enter the form:
- Open or continue your return.
- Type sale of home in the Search box.
- Select the Jump to link in the search results.
- Follow the screens to enter the info from your 1099-S.
Profits of up to $250,000 ($500,000 on a joint return) on the sale of your home may not be taxable if it was your primary residence for two of the last five years. We’ll ask you some questions about the sale of your home to see if you qualify.
Other real estate sales
If your 1099-S wasn’t for the sale of your main home, select the option below for step-by-step instructions:
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