There is no section in TurboTax to directly enter the information from the 1099-S. This is also the way tax software is coded by most if not all other tax software including the pricey Ultra Tax. Form 1099-S is used to report the proceeds from the sale or exchange of real estate and certain royalty payments. This includes transactions that consist of sale or exchange for money, indebtedness, property, or services of any present or future ownership interest in: Improved or unimproved land, including air space. The lack of a 1099-S in your tax return does not raise a red flag for the IRS.
You will enter the information from the 1099-S and your information about the date of purchase and the cost basis of the home that you have from your records.
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