You need to report the sale and the gain or loss. Report the sales proceed and the adjusted basis in the program. You can report the sale with or without a 1099-S.
- Click Federal on the left side-bar
- Click Wages & Income along the top
- Click "I'll pick what to work on" or "Show all" if needed
- Scroll
down to "Less Common Income" click Show more
- Scroll down to "Sale of Home (gain or loss)" click Start or Revisit
Your adjusted basis is the price you paid, plus any capital improvements you made and paid for. Report only your share. Depreciation needs to be reported also.
