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Returning Member
posted Mar 4, 2025 2:22:28 AM

How to file without a 1099-S

Sold a 50/50 ownership in 5 acre of raw land with my brother in 2024. The title company advised they do not issue a 1099-S advising to use the Affidavit of Property Value when filing. The land sold for $10,000 minus commission & another fee took the price down to $8,000 each of us received $4,000 each. How do I go about filing this? Do I file the $4,000 and not the full sale price of $10, 000. 

I am assume that the Affidavit of Property Value is reported to either the IRS or with the state revenue dept. 

Any tip and can this type of transaction be filed using TurboTax?

Thanks,

K

0 1 1541
1 Replies
Expert Alumni
Mar 4, 2025 4:27:08 AM

Yes, this can be included on your return using TurboTax.  You will add this as an investment sale for your half which was $5,000 and then add the expenses which will take it down to the $4,000.  Yes, you can use the Affidavit of Property Value for the information. 

 

You would enter the sale of the land by clicking the following:

  1. Federal
  2. Income
  3. Show More next to Investment Income
  4. Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) 
  5. Select Other
  6. Continue through and select land for the type of investment
  7. Answer how you obtained it
  8. You will need to enter the selling price, dates and the cost basis   

Note, your navigation sequence may be slightly different.  You can also use the Jump to feature by entering investment sale in the search bar at the top of the screen.