MargaretL
Expert Alumni

Deductions & credits

Please follow steps below to enter second home sale.  The actual form 1099-S is not reported (you won't fine box for box identical data entry), but the information from it is needed:

  1. Federal Taxes 
  2. Wages and Income 
  3. Scroll down to Investment Income
  4. Select Stocks, Mutual Funds, bonds, Other
  5. Indicate that 1099-B/brokerage statement was not received for the sale, continue through the interview.
  6. On the screen Choose the type of investment you sold, select Second Home - you will be asked to enter the net proceeds, the date of sale, how you acquired the property and then the cost basis of the home (original cost and improvements).

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