I also have farm land that I need to show as gifted capital gains on from a 1099-S from the closing attorney. I figured out how to do it with TT Deluxe but after entry it shows up on a 1099-B. So I'm thinking the IRS is going to get a 1099-S from the attorney so what to do about the discrepancy? Talked to a nice lady at TT who identified herself as a CPA and questioned her about this. She said all capital gains like this are going to show up on1099-B - that there is NO 1099-S form generated- it simply will wind up on 1099-B. During the entry proscess you should select "F" (Long Term transactions not reported to you on 1099-B) which will show up on the 1099-B worksheet and form 8949 and this is supposed to square it with the IRS. Check all the 1099-B worksheets and the 8949 that F is shown and correct them on each 1099-B worksheet if not. I still feel queasy about it but someome on this site said they had purched TT Premier and it was no different from the TT Deluxe-it still showed up on a 1099-B. I think TT is a little slack on this one.
