I am using the 2024 Premier version of TurboTax.
I received a 1099-s from my title company for the sale of an inherited second home (I live in Colorado; the inherited home was in NJ) The inherited home was acquired approximately 10/20/21 and sold 10/4/24 (almost 3-years later.) When I navigate through the TurboTax menus to report it under Investment income, I choose the option to enter a 1099-s and correctly enter all information regarding the sale of my second home.
I have reviewed and re-reviewed several times all the options to include 1099-s and followed the correct steps however each time when I go to look at what has been added to my return it is 1099-b.
- Shouldn’t it be a 1099-s?
2. Is there a place to enter
a. the TIN
b. date the property was acquired
c. address of the property (I have been unable to locate where these items go)
3. Given this scenario of the inherited second home being in another state, does NJ require taxes on the sale when I am already paying state taxes in Colorado?
4. If I decide to add a second state tax return using the Premier TurboTax which I already purchased, how much would TurboTax charge now versus later in the year?
5. Using the same Premier program I currently have will TurboTax charge added fees to amend the return?
