Sold a rental; entered sale info in rental sect. Also entered 1099-S in "Invest Income" sec but cap gain doubled. Can delete 1099-S but worry about not reporting a 1099S?

bhammondsr · ‎April 01, 2025

The sale proceeds and costs/basis appear to be properly captured (Form 4797, Sch D), so is adding the 1099-S to the Investment Income section (where TT directed me) unnecessary.

DavidD66

Yes, You need to delete the transaction you entered in the investment section. There is a sale of a real estate asset, it''s just on Form 4797 instead of Form 8949. That's all you need.

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View solution in original post

DavidD66

Yes, You need to delete the transaction you entered in the investment section. There is a sale of a real estate asset, it''s just on Form 4797 instead of Form 8949. That's all you need.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Sold a rental; entered sale info in rental sect. Also entered 1099-S in "Invest Income" sec but cap gain doubled. Can delete 1099-S but worry about not reporting a 1099S?