Sale of second home and filing of 1099-S

wideglidejrp · ‎January 14, 2023

I sold a second home and received a 1099-S. I cannot find where to enter it in TT. I realize this is an investment transaction but it is not listed among the investment choices. The search gives a lot of answers which do not work. It says to click the "Jump Link". There is no jump link. A related question is where to enter the home improvements which were made to the second home.

Anonymous_ · ‎January 14, 2023

@wideglidejrp wrote:

I sold a second home and received a 1099-S. I cannot find where to enter it in TT. I realize this is an investment transaction but it is not listed among the investment choices.

That is correct; it is not listed among the choices. As a result, you enter it in the same manner as if you had sold a stock, bond, or mutual fund and you can input something like "second home" in the description.

Note that you will have to indicate the home was held for personal use if you have a loss (which is not deductible).

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Anonymous_ · ‎January 14, 2023

@wideglidejrp wrote:

I sold a second home and received a 1099-S. I cannot find where to enter it in TT. I realize this is an investment transaction but it is not listed among the investment choices.

That is correct; it is not listed among the choices. As a result, you enter it in the same manner as if you had sold a stock, bond, or mutual fund and you can input something like "second home" in the description.

Note that you will have to indicate the home was held for personal use if you have a loss (which is not deductible).