Investors & landlords

You use the Investment sale section of the program.  Where asked you would indicate this was a second home and that it was inherited.  The Form 1099-S is not entered on the tax return but the information on the form is used.

Note the the Schedule D and Form 8949 for reporting this sale are not yet finalized.  They are scheduled to be available on 01/14/2021 (subject to change)

 

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Under Investment Income
  • On Stocks, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales