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Suesap
Level 1

Sale of Real Estate

Where do I report the sale of property that included a non-livable house and less than an acre of land? the property had not been rented for at least 10 years. It was my primary residence at one time, but not for the last 25 years. I did get a 1099-S. Do I need more information than what is provided on the 1099-S? I'm using TT Deluxe. Do I need a different version? Thanks for any insight you can provide.

3 Replies
DavidD66
Employee Tax Expert

Sale of Real Estate

You will report that in the same section in which you report stock and other investment sales.  To enter:

 

  • Type "Investment sales" in the search window and click Enter
  • Click on "Jump to Investment sales"
  • On the page with "Did you sell any investments in 2020?"  Answer Yes
  • Answer "Other" to "OK, what type of investments did you sell?" and click Continue
  • Enter the name of the person or firm that brokered this sale
  • On the page with "Now we’ll walk you through entering your sale details" for "What type of investment you sold" Indicate "Land (personal use) "
  • Indicate "How did you receive this investment?
  • Enter the details of the sale, and the interview will walk you through entering the details of the sale
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Suesap
Level 1

Sale of Real Estate

Does this work in TT Deluxe? 

PattiF
Employee Tax Expert

Sale of Real Estate

No, this will be recorded on Form 8949 which is not supported in Deluxe, but is available in Premier.

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