You may get a 1099-S if you sold your home, a rental property, stock in a co-op, or any other real estate, including land, permanent structures, or standing timber on your land.
If the 1099-S was for the sale of your main home, profits of up to $250,000 ($500,000 on a joint return) on the sale of your home may not be taxable if it was your primary residence for two of the last five years. We’ll ask you some questions about the sale of your home to see if you qualify. If you think you may qualify for this exclusion, use this link to enter your 1099-S. If you know you do not qualify for the exclusion, use the link below. There is no screen for a 1099-S entry, however, TurboTax will ask for the information from your 1099-S to calculate the gain or loss and report it on your tax return.
Other real estate sales
If your 1099-S wasn’t for the sale of your main home, select the option below for step-by-step instructions:
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