Where do i report capital gains on sale of timber sales with 1099-S for an estate with Turbo Tax Business

[taylorme72]

The property is in an estate,  there was a timber appraisal for capital gains on the estate.   The timber sales were reported as a 1099-s.   How do i enter the capital gains and income for 1099-s in Turbo tax Business?

[IreneS · Accepted solution]

A timber sale is considered as a sale of an investment.To report the sale in TurboTax Business on a 1041 return, please use these steps:

1. Click on Federal Taxes >  Income  
2. In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other.   
3. If you have already entered some investment sales, you will see a screen Summary of All Accounts.  Click on the Add Another Account link.  
4. If you haven't already entered some investment sales, you will see a screen Did you sell any Stocks, Bonds, or Mutual Funds in 2018?  Click the Yes box.
5. Mark the Yes radio button to indicate that the Investments were Acquired from a Decedent.
6. On the Select Your Financial Institution screen, select No financial institution in the box and click Continue.
7. On the screen, Enter Other Sales, put the information from the timber sale.  Be sure to enter the NET Sales Proceeds (after closing costs, etc.),