I need a bit more guidance. I rec'd a 1099-S from the Title Company since I mentioned the buildings on the property were strictly used for business and recorded as such.
I understand about allocating a portion of the sales price and closing costs to the assets sold under the business section of Turbo Tax.
How do I report the sales of the home? It states on TurboTax that I report the sales price that is reported on the 1099-S. If I do that, won't I be doubling on the assets sold value?
What do I enter for the home sales price?
Thanks!
