Deductions & credits

You should owe income tax even if you report it as "other income" as if it was in box 3.  Just less tax than if in box 7.  (In other words, while your refund may go up or your tax owed goes down, you are still paying tax on the income.)

Real estate transactions are reported on form 1099-S, not 1099-MISC.  Here are the instructions for reference.  <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/i1099s.pdf">https://www.irs.gov/pub/irs-pdf/i1099s.pdf</a>

If the county issues a 1099-S and cancels the 1099-MISC, you can enter the 1099-S in the program.  But make sure you still click the section for sale of other property, or sale of investment property, and NOT sale of your personal home.

If the county does not issue a 1099-S, don't try to guess about boxes and enter a fake 1099-S.  Just report the transaction as "sale of other investments" or "sale of other property".  Not every investment sale results in the issuing of a 1099 form and you can enter the transaction without a form.