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Retirement tax questions
I think you will first have to pay $30 to get the upgrade of the Turbo Tax Deluxe version to the Premier version in order to report the proceeds in the 1099-S for the Sale of Your Home under the Less Common Income section. This option is not available in the Deluxe version.
Before you jump into the upgrade, I would suggest you break out the 1009-S into different owners of your property. You should ask the same attorney who issued the 1099-S for you. If your house was co-owned by 3 peoples, then you would need 3 separate 1099-S for each individual. I think this is the law.
I have recently sold my house. It was co-owned by my wife. Upon the closing, my attorney gave us 2 separate 1099-S.
Good luck!
March 8, 2022
5:22 PM