jennmassi
New Member

How do I enter net proceeds in the second home sale section when I only have a 1099-S showing gross proceeds?

The only box available is for net proceeds. Do I calculate this myself and enter THAT amount? Or do I enter the GROSS amount that the 1099-S states, which is a WAY over inflated number compared to what I actually received.  ALSO, I already had to fill out forms to have taxes withheld from the proceeds, so some money has already been withheld by the state. Where do I enter this?