AnnetteB6
Expert Alumni

Deductions & credits

Since you are entering the sale of a second home, reporting that sale through the Investment Income section is appropriate.  It will be reported ultimately on Schedule D where any gain will be subject to capital gains tax.  

 

Form 1099-S is not specifically reported as part of your tax return.  The information provided on Form 1099-S is used to fill in the details of the sale.  

 

You seem to be on the right track, but if you need more specific information about entering the sale on your return, take a look at the following TurboTax help article:

 

Where do I enter the sale of a second home, an inherited home, or land on my 2022 taxes?

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