sale of second home

[Cyd61]

I received a 1099-S for sale of a second home.  I clicked on Add Investment and chose 1099-S Sale of second home.  After I input all the information, TT saves it as a 1099-B instead of a 1099-S.  How can I get it to save correctly as a 1099-S?  I originally had TT deluxe but read on the forum that I needed Premier so I upgraded but still have the same result.

[DawnC]

It should be listed as a 1099-B (that is why you had to upgrade).   It is considered an investment sale, so your 1099-S serves the same purpose as the 1099-B.   There is no entry for a 1099-S form in TurboTax.  We treat a 1099-S, home sale, like all other investment sales (generally reported on a 1099-B).  

You can continue on to the next section; no edits are necessary.   Deluxe does not allow the entry of 1099-B, which is why you required an upgrade to Premium to be able to enter your 1099-S.   And whether your 1099-S is for your main home, a second home, or something else, it is still an investment sale.   See this TurboTax FAQ

[Solar Eclipse]

Hi Dawn, I'm perplexed by your reply and by the link provided...

You said "Deluxe does not allow the entry of 1099-B" and the link says "You’ll have to use TurboTax Premium to report the sale of a second home, an inherited home, or land."

I'm not finding either of those statements to be correct.

As far as I can tell, TT Deluxe Desktop does allow input of 1099-B and second home sales, inherited homes, etc.

Are you referring to some limitation of electronic filing or the online version of TT that requires Premium?

SE

[DoninGA]

@Solar Eclipse The answer provided was referring to using the TurboTax online web-based editions, not the TurboTax desktop editions.